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Budget 2020: Enterprise Singapore launches 2 programmes to support trade and merchant associations

THE Singapore government is launching two programmes to raise the capabilities of trade associations and chambers (TAC) in a bid to strengthen industry partnerships, Deputy Prime Minister and Finance Minister Heng Swee Keat said.

In his Budget speech on Tuesday, Mr Heng said one programme is a pilot Executive-in-Residence programme, launched by Enterprise Singapore (ESG). This will fund more than 10 TACs covering all sectors of the economy in their hiring of experienced executives and procurement of expert advice for enterprises in their industries.

ESG will also launch a Heartland Enterprise Upgrading Programme to support merchants' associations driving transformation of heartland enterprises.

"Within each industry, we need to strengthen partnerships to deepen industry-wide capabiltiies. Even as our enterprises compete to differentiate themselves, they must come together to solve common challenges," Mr Heng said, adding that TACs play an important role.

One example is an electronic payment system developed by the Container Depot and Logistics Association (Singapore) to help depot operators and transport companies save time and cost.

The support for TACs and merchants' associations will help sustain the good progress, Mr Heng said.

For more Budget 2020 stories, visit bt.sg/budget20.