Firms that do not change will hit 'dead end': Heng Swee Keat

Singapore

COMPANIES must persist in transforming their business operations through technology, and upgrading workers at the same time, to cope with changes, said Finance Minister Heng Swee Keat on Monday.

He acknowledged that the process is not straightforward or easy, but maintained that it is a necessary step.

"As I said in the Budget, if we do not change, then we will be hitting a dead end," he said, adding that making changes later will be "much harder".

"It is far better for us to take the slightly more difficult road toda…