SINGAPORE: The Government will cut red tape and remove barriers to help local businesses innovate and grow.
At the same time, Innovation Agents will match new firms seeking advice on innovation opportunities with experienced industry experts. Binjai Brew told Mr Chee the requirement for new microbreweries to pay the full annual fee of S$8,400 upfront to Singapore Customs was a huge obstacle for young entrepreneurs.
“We believe that this is an important part of supporting entrepreneurship and innovation, which are critical elements if we want to achieve economic transformation in Singapore,” he added.READ: ‘We agonised over this’: Chee Hong Tat explains tightening of foreign worker quota for services sector Mr Chee said that the decision was a difficult one as the Government is aware of the constraints and challenges faced by companies involved, including in the accommodation, food services, retail, information and communications, as well as professional services sectors.
He added that fewer foreign workers taking up services sector jobs means that these same roles will be available to locals. These jobs will also be redesigned to attract Singaporean employees, and the Government will help local companies to achieve this.
Source: News Formal (newsformal.com)
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