Singapore Budget 2016: How businesses should approach the future
Singapore needs to evolve from a value-adding to a value-creating economy.
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HOW Singapore should evolve from a value-adding to a value-creating economy is a key focus of the Committee on the Future Economy chaired by Finance Minister Heng Swee Keat, and what Singapore Budget 2016 contains towards this end is keenly awaited.
While deliberations can continue, what would value creation mean to Singapore businesses operating in a rather high-cost environment and striving to compete in the rapidly changing global economy?
To remain relevant and competitive, we suggest that any effort at value creation should keep in mind two key considerations: shifting the focus from ideation to commercialisation; and starting businesses with the global marketplace in mind.
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