Budget 2016: S$100m trade platform to be developed for data sharing

The Ministry of Finance will develop the National Trade Platform (NTP), to cost more than S$100 million, as the next-generation platform to support firms particularly in the logistics and trade finance sectors, said Heng Swee Keat, Minister for Finance.

The NTP will enable electronic data sharing among businesses and government. This will be especially helpful for SMEs to cut costs and streamline processes, said Mr Heng. The NTP has potential to bring over S$600 million worth of man-hour savings each year to firms here.