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Singapore's response to economic impacts of Globalization. (Equip…
Singapore's response to economic impacts of Globalization.
Economic Cooperation / Expand Market
Free Trade Agreements (FTAs)
US-Singapore Free Trade Agreement(USSFTA)
Foreign Direct Investment(FDI)
Diversify Economy
Market Readiness Assistance
till 31/03/2023
grant cap raised to $100k per new market per company during enhancement period
Double Tax Deduction for Internationalisation
till 31/12/2025
encourage Singapore companies to increase their market development and investment activities overseas
Overseas Ventures/Internationalisation
Expand Production and Sales
Higher Profit & Market Share
GlobalConnect@Singapore
Business Federation
assist Singapore enterprises which are looking to internationalise for the first time or enterprises expanding and deepening their presence in key Southeast Asian markets and emerging markets
Support Singaporeans during downturn
For Singaporeans
Help to find jobs
Rental rebates
Retrain with new skills
For Businesses
Tax exemptions
Financing with lower interest rates
Increased Subsidies
Nurturing SMEs
Industry Transformation Programme
SGD 4.5 billion spent
develop tailored industry strategies for 23 industries
raise productivity, develop skills, drive innovation and promote internatiolisation
implement partnerships between the government, firms, trade associations and business chambers
government offered time-bound financial assistance for companies undergoing restructuring
Grow Digital
Equip Singaporeans with Skills
Continuing education and training (CET) Masterplan
Support Singaporeans with new and better skills by leading education and training providers
Workfare Training Support Scheme
Workfare income supplement (WIS) is a scheme to supplement wages and retirement savings of older low-wage workers to encourage them to stay employed
Training allowance for working Singaporeans who sponsor their own training
Training roadmaps with customised classes
Training Commitment Award to encourage workers to go for continuous skill upgrading
SkillsFuture
promote industry support for individuals to progress based on skills upgrading
more structured internship programmes in higher learning institutes, cash credits for work-skills related courses, cash subsidies and training support have increased for mid-career workers