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Singapore Budget 2018: S$800m over three years set aside for industry grants

THE government will set aside S$800 million over three years for three industry grants, Finance Minister Heng Swee Keat said on Monday.

The first is the productivity solutions grant (PSG), which provides funding support for up to 70 per cent of qualifying costs linked to buying off-the-shelf productivity tools.

The second is the enterprise development grant (EDG), which allows companies to scale up and internationalise. The grant offers funding support of up to 70 per cent of qualifying costs from fiscal 2018 to fiscal 2019. The EDG is a merged grant, a combination of Spring Singapore's Capability Development Grant and IE Singapore's Global Company Partnership grant.

The final grant is the PACT scheme, which will allow more "holistic support" to encourage collaboration between enterprises of all sizes. PACT will provide funding support of up to 70 per cent of qualifying costs.

sentifi.com

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For more Budget 2018 stories visit bt.sg/budget18

SINGAPORE BUDGET 2018

For more stories, visit bt.sg/budget18
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