Teamwork and innovation vital

THIS WEEK'S TOPIC: How might the Fair Tenancy Framework be tweaked to better reflect the interests of both tenants and landlords? What's needed for the retail industry to remain viable?

Victor Mills Chief Executive Singapore International Chamber of Commerce

The multiple effects of Covid-19 on businesses will drive change in the landlord-tenant relationship because it is a symbiotic relationship. They will either sink or swim together. What is needed now is for all landlords to sign up to the Fair Tenancy Agreement. They can then collaborate with their tenants to keep it relevant and responsive both for the short term and for long-term mutual survival. Failure to take this approach will only achieve mutually assured destruction. In tandem, to remain viable the retail sector needs to continue to innovate to provide customers with a wider choice of merchandise.