New Enterprise Singapore to provide differentiated support for businesses: Iswaran

THE newly formed Enterprise Singapore (ESG) will provide differentiated programmes and support for companies according to their specific needs, Minister for Trade and Industry (Industry) S Iswaran said on Monday at the official launch of the business development agency.

Mr Iswaran highlighted the need to help companies respond nimbly, innovate and internationalise amid the rise of Asian economies, new technologies and an ageing population. Those needs demand a new way to help Singapore businesses, he said.

ESG "will adopt an enterprise-centric approach, providing differentiated programmes and support according to a company's stage of growth, the industry in which it operates, and its overseas markets of interest," he said in prepared remarks.

ESG was formed from a merger of the old International Enterprise (IE) Singapore and Spring Singapore agencies. IE Singapore was the lead agency in helping Singapore companies to expand overseas, while Spring helmed the development of small and medium businesses as well as industrial standards.

The new agency will continue to develop industrial standards and ensure consumer product safety, Mr Iswaran said. It will also enhance international links to establish Singapore as a leading and vibrant startup and trading hub.