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Singapore's response to economic impacts of…
Singapore's response to economic impacts of globalisation
Support for Singaporeans during Global Financial Crisis
given opportunities to be retrained with new skills
given assistance through rental rebates
reduced interest rates and increased subsidies for insurance premiums
tax exemptions were granted
Diversify its economy and to ensure the industries are relevant in the changing economy
improved infrastructure
increase in trade and business
establishment of industrial infrastructure
produce more resources and products
greater job opportunities
promote research and development
partnerships with other countries
train manpower
advancements in industries (biomedical science etc.)
attract foreign investors
focus on more technology and information-driven industries
Nurture SMEs to ensure that they are relevant and competitive
understand local conditions
offer goods and services which appeal to the locals
provide financial assistance
facilitate partnership between SMEs and larger corporations
Expand market reach through economic cooperation
strengthen relationships with other countries
generate more tax revenue and create more job opportunities
Encourage local companies to go overseas
widen market reach
expansion of services and products
opportunities to benefit from higher profits and larger market share
lower labour and production costs, and cheaper resources
government
offers loans, grants and tax incentives
Equip Singaporeans with skills, to ensure their competitiveness
Four Key Thrusts
1) help individuals make well-informed choices in education, training and careers
2) development on education and training that responds to constantly evolving needs
3) promote recognition and career development
4) foster a culture that supports and celebrates lifelong learning