With ‘major challenges’ ahead, Singapore is ready to do more to help businesses transform: DPM Gan

[SINGAPORE] The government is ready to do more to support companies to transform, if necessary, “in the face of major challenges coming our way”, said Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong on Monday (Apr 14).

“The world is full of challenges, volatility, uncertainties, and we do want to encourage our companies, our enterprises, our workforce, to continue to transform themselves,” he said.

This is so that companies are more resilient and can seize opportunities that arise, while managing challenges that lie ahead, he said in a visit to construction company Samwoh Corporation’s Smart Hub.

Samwoh is an example of how companies have been transforming, he added, noting its efforts in innovation, sustainability and talent development.

He praised Samwoh for providing many avenues for staff to be groomed into corporate leaders, including opportunities to lead local and international projects; overseas attachments and assignments; and attending technical conferences.

The government will always provide the necessary support for companies that want to transform their enterprises and workforce, said DPM Gan. Noting that “significant support” was provided in Budget 2025, he added: “We are ready to do more if necessary.”

The visit was part of a series of political office holders’ visits to companies across various sectors.

Earlier in his visit, DPM Gan spoke to Samwoh employees about innovative projects such as the development of new building materials, as well as the company’s digitalisation efforts.

For instance, Samwoh uses building informational modelling to provide a shared digital platform for all stakeholders to access and work on a project at the same time.

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In sustainability, the company aims to increase the use of recycled materials, such as plastic waste, in its construction of roadways. (See *Amendment note)

DPM Gan also toured the Samwoh Innovation Centre, viewing examples of the company’s innovations such as polymer-modified bitumen, which has better flexibility and resistance to cracking.

*Amendment note: A previous version of this story incorrectly said that the company aimed to increase the amount of recycled demolition materials in its construction of roadways to above the current 20 per cent.