Budget 2021: Growth and Transformation Scheme to transform value chains

THE government will launch a Growth and Transformation Scheme (GTS) to focus on entire value chains.

This will start with the built environment sector, Deputy Prime Minister and Finance Minister Heng Swee Keat announced in Parliament on Tuesday.

The built environment GTS will require developers to work closely with their consultants, contractors and suppliers to level up as an ecosystem.

The sector is recovering, after experiencing an "existential threat" last year, according to Mr Heng.

"Developers, consultants and contractors now realise the urgency to radically improve productivity and reduce the reliance on labour intensive methods," Mr Heng said.

"Working together to transform and innovate, the alliance members can achieve more than what each alone can do," he noted.

The Minister for National Development will elaborate on this GTS at the Committee of Supply.

Since the launch of the Construction Industry Transformation Map in 2017, the government has made a big push to drive transformation in the built environment sector,.

As Singapore enters the next phase of industry transformation, it will aim to have all players in any value chain working together to integrate and digitalise processes, and upskill workers.

The government will build on the seven Alliances of Action, which are industry-led coalitions convened last year.