Singaporean Minister for Trade and Industry Chan Chun Sing (Photo: Internet) Singapore (VNA) – Singaporean Minister for Tradeand Industry Chan Chun Sing outlined five measures in which the government willhelp firms seize opportunitiesabroad, while addressing the parliament on March 3.
According tohim, Singapore now has 25 free trade agreements with economies worldwide,accounting for 85 percent of the world’s gross domestic product and providingaccess to billions of consumers abroad.
He said theGovernment will extend the enhanced support under the Market ReadinessAssistance scheme for another three years till March 31, 2023. The grant capwill be raised to 100,000 SGD (71,900 USD) per new market, per company during theperiod.
Second, theDouble Tax Deduction Scheme for Internationalisation will be extended foranother five years till Dec 31, 2025.
Third, theGrow Digital initiative will be launched to help small- and medium-sizedenterprises grow their business overseas via digital channels to reach newcustomers.
Fourth, thegovernment will work with the Singapore Business Federation to launchGlobalConnect @ SBF, an international advisory centrethat provides market access support to companies new tointernationalisation, in April.
Fifth, greater support will be given to young Singaporean graduatesunder the Global Ready Talent programme to take on work opportunitiesabroad, particularly in Southeast Asia, China or India./.
