Singapore injects another 8 billion SGD to support economy
Singapore’s government has allocated another 8 billion Singapore dollars (5.8 billion USD) to support workers and businesses hurt by the COVID-19 pandemic, the country's Deputy Prime Minister and Finance Minister Heng Swee Keat said.
Deputy Prime Minister and Finance Minister of Singapore Heng Swee Keat (Photo: Reuters)
Singapore (VNA) – Singapore’sgovernment has allocated another 8 billion Singapore dollars (5.8 billion USD) tosupport workers and businesses hurt by the COVID-19 pandemic, the country's Deputy PrimeMinister and Finance Minister Heng Swee Keat said.
In a nationally-televised update on August17, he noted that Singapore saw the lowest growth rate in the second quarter of2020.
Data showed the Singapore economycontracting 6.7 percent in the first half of the year, with a record quarterlyslump in the second quarter.
With some of the existing support measuresending soon, it is time to advance strategies in three areas, he added.
They include continuing support for jobsand creating new ones, providing further support for hardest-hit sectors, and positioning Singapore to seize growth opportunities in a post-pandemicworld.
To continue protecting jobs, the JobsSupport Scheme (JSS), which was introduced at the first budget in February,will be extended by seven months to cover wages paid up to March 2021, theminister announced.
The scheme has so far disbursed over 16billion SGD in payouts, helping more than 2 million local workers employed byover 150,000 companies.
Heng also announced the launch of a 1-billion-SGDJobs Growth Incentive (JGI) that will support Singapore’s efforts to create newjobs, with a special focus on mature workers, will help firms to increase theirlocal worker headcount over the next six months, he said.
Singapore has earmarked a total 100.9billion SGD to support its economy which is under the pressure of the pandemicand trade tensions. Heng said his government intends to fund these measures “byreallocating monies from other areas that were delayed due to COVID-19”./.
Japanese Minister for Foreign Affairs Motegi Toshimitsu arrived in Singapore on August 12 for a three-day visit, becoming the first high-ranking official to make a trip to the city-state since border entry restrictions were put in place due to the COVID-19 pandemic.
Singapore’s financial sector created 22,000 jobs between 2015 and 2019, and of these, three out of the four jobs went to locals, said a top official from the Monetary Authority of Singapore (MAS) on August 12.
Director of the Foreign Relations Department at the Ministry of Defence Lieut. Gen Vu Chien Thang and Director of Defence Policy Office of Singapore Col Amos Yeo co-chaired a virtual meeting on bilateral defence cooperation and the ASEAN Chairmanship Year in 2020 on August 13.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
Deputy Prime Minister and Finance Minister of Singapore Heng Swee Keat (Photo: Reuters)
