Budget 2023: new Enterprise Innovation Scheme a ‘bold and sharp’ move needed in these times

• New scheme a “potential game-changer” that will boost competitiveness, observers say
• Will work well with S$4-billion top-up to National Productivity Fund to support investment promotion
• Together, they are expected to build a more vibrant economy and better jobs

SINGAPORE’S new Enterprise Innovation Scheme (EIS) has been lauded as a bold and sharp move that will help local businesses continue to invest in innovation, at a time when many may be tempted to reel in their spending instead; this will give companies the drive they need to stay competitive in this challenging global environment, observers said in reaction to Budget 2023.

“Our companies need to focus more on innovation and in making…

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