Singapore Budget 2018: ITMs to take a more "cluster-based" approach

THE Industry Transformation Maps (ITMs) will be developed further by taking a "cluster-based approach", aimed at creating synergies and strengthen linkages across multiple industries, Finance Minister Heng Swee Keat said on Monday.

In doing so, the ITMs will be developed to tackle three key enablers. The first is in fostering pervasive innovation throughout Singapore's economy. The second is in building deep capabilities, such that Singapore not just competes on costs, but on value and skills.

Finally, the ITMs should forge strong partnerships both locally and abroad, so that businesses can tap new opportunities in our region and abroad.

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