SMEs to spend more to raise productivity: study

[SINGAPORE] Even as consumers descend on malls with Christmas gift lists in hand, small and medium enterprises (SMEs), too, have gone shopping.

A new study has revealed that SMEs in Singapore are expecting to spend more on new technology and assets to improve productivity and combat rising business costs.

In particular, construction-engineering firms will be the most active in investing in solutions to mitigate the impact of the Republic's foreign worker policies. The sector is among the hardest hit by tighter manpower quotas, higher levies and a reduction in the number of employment passes.