Firms in social entertainment urged to rethink business model

Singapore

COMPANIES that are involved in social entertainment or require high levels of interaction may need to rethink their business model for longer-term sustainability, before the government can reopen those segments of the economy, Trade and Industry Minister Chan Chun Sing said on Monday.

As Singapore progressively reopens its economy, priority will be given to the sectors that can reinforce the Republic's position as a financial, trade and transport hub, as well as those that allow the country to fulfil its responsibility to global supply chains, Mr Chan said. This includes sectors like pharmaceuticals, biomedical, electronics and petrochemicals.