SINGAPORE - The next six to 12 months will be difficult for Singapore on the economic front, but the Government is clear about what needs to be done, Minister for Trade Industry Chan Chun Sing has said.
While Singapore's biomedical and information and communication technology sectors are doing fairly well, the performance of the manufacturing sector is volatile, while recovery for sectors like aviation and tourism will be slow and uneven, he said. The key questions facing Singapore - and which candidates from all political parties need to answer - are who can secure jobs for Singaporeans, who has has the ability to attract investments here, and who can rally community networks to help workers and families who may come under stress in the coming months, said Mr Chan.
Of these, about 12,000 job placements have been made, with close to 70 per cent of them in the public sector, said Mr Ng. In April, some $225 million was disbursed under the Temporary Relief Fund to help about 450,000 Singaporeans, he said. The Covid-19 Support Grant to help retrenched workers and those put on involuntary no-pay leave has also helped over 35,000 applicants, while the Self-Employed Person Income Relief Scheme has supported over 150,000 people.
This means working with like-minded partner countries to uphold bilateral and multi-nation free trade agreements so that Singapore can continue to access overseas markets amidst growing protectionism, said Mr Chan.
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