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SMEs to get digital access to overseas opportunities, more Industry Digital Plans

SINGAPORE'S small and medium-sized enterprises (SMEs) will get access to overseas opportunities without having to go abroad, via the new Grow Digital scheme under the Infocomm Media Development Authority's (IMDA) SMEs Go Digital initiative.

This involves business-to-business and business-to-consumer e-commerce platforms. Through such platforms, SME suppliers will benefit from smart-matching to potential overseas clients. They can also gain access to financing, and integrate with logistics firms for last-mile delivery.

In short, Grow Digital "will help SMEs access overseas opportunities without the need to establish an in-market physical business", said Minister for Communications and Information S Iswaran during the ministry's Committee of Supply debate on Tuesday.

Grow Digital will also support SMEs to tap Singapore’s network of free trade agreements and digital economic agreements to extend business linkages and grow their customer base, he added.

At the industry level, more Industry Digital Plans (IDPs) or their equivalent will be rolled out for all 23 industries covered by Industry Transformation Maps, and more digital solutions will be pre-approved for the different needs of the sectors.

This follows the earlier launch of IDPs for 10 sectors including sea transport, food services and accountancy. Through these plans, SMEs receive guidance on the digital solutions and training available to them at every stage of growth.

"Sectors such as construction, food manufacturing, and adult and early childhood education will benefit from dedicated digital roadmaps to help transform their businesses and upskill their workers," said Mr Iswaran.