Gan Kim Yong
Singapore
“Consumer complaints relating to the secondary resale market for tickets to major events and concerts have generally remained low. Nonetheless, to protect the public from scams on secondary ticket resale platforms, the Police have imposed Code of Practice requirements under the Online Criminal Harms Act to require designated online service…”
“Singapore does not condone the use of forced labour. We criminalise forced labour in Singapore under various laws. Relevant Government Ministries and agencies, such as the Ministry of Manpower, Ministry of Home Affairs and Singapore Police Force, play their part in investigating complaints of suspected breaches in domestic laws that relat…”
“The Association of Banks in Singapore (ABS) discontinued the PayNow nickname feature as scammers had been exploiting the use of nicknames to impersonate legitimate entities and trusted individuals.”
“As of end-2025, around 6,900 private residential buildings have registered their solar installations with SP Group for the export of excess solar-generated electricity to the grid. The installed solar capacity of these residential buildings is 115.3 megawatt-peak (MWp), or around 5.5% of all current installed solar capacity in Singapore.”
“The one-year pilot extension of liquor trading hours has seen strong interest from businesses. As of 31 May 2026, the Police have approved 88 applications for the extension of liquor trading hours from public entertainment outlets in these areas.”
“The Government does not make projections of domestic or regional demand for renewable diesel or sustainable aviation fuel. Demand depends on commercial considerations, evolving market conditions and regulatory developments across different jurisdictions.”
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“From 2020 to 2022, the Government supported about $23 billion of loans under the Temporary Bridging Loan Programme (TBLP). TBLP was introduced to assist local companies that experienced cash flow difficulties during the COVID-19 pandemic. Table 1 below provides a yearly breakdown of the number of loans supported. The median interest rate charged by Participating Financial Institutions (PFIs) was 2.8%. All the PFIs are Singapore-based. The risk-share provided by Enterprise Singapore to the PFIs was between 70% and 90%. The default rate for TBLP has been less than 2%. To date, Enterprise Singapore has paid about $100 million in claims to PFIs for loans that have been written off.”
“Electricity consumption is likely to be higher during the hotter months of April and May. This year, peak electricity demand increased by about 8% from 7.3 gigawatts in February to 7.9 gigawatts in May. We have sufficient generation and grid capacity to meet the increased electricity demand arising from higher temperatures. The existing installed capacity of Combined Cycle Gas Turbines used for power generation is 9.4 gigawatts, higher than the peak electricity demand we experienced. System demand and network conditions are closely monitored in real time 24/7 by the Energy Market Authority (EMA). The national grid operator, SP Group, also has round-the-clock monitoring of our transmission and distribution network. During periods of increased demand, EMA can direct generation units, such as Open Cycle Gas Turbines, to supply additional electricity to meet the system’s needs. Consumers are strongly encouraged to manage their demand for energy. The National Environment Agency and Economic Development Board have introduced Energy Efficiency schemes to incentivise households and businesses to adopt energy-efficient technologies. EMA has also introduced the Demand Response and Interruptible Load schemes which reward consumers when they reduce their electricity usage during periods of high overall demand, so as to mitigate peak demand and improve system reliability.”
“The Competition and Consumer Commission of Singapore has not received any application of a joint venture between Singapore Airlines and Garuda Indonesia.”
“On 10 May 2022, the Competition and Consumer Commission of Singapore (CCCS) conditionally cleared the proposed commercial cooperation partnership between Singapore Airlines Limited and Malaysia Airlines Berhad, subject to CCCS' further assessment once air travel recovers. With the recovery in air travel, the Parties have submitted their updated proposal to CCCS on 24 March 2023, which is currently being reviewed.”
“The top three sectors with the highest amounts of prepayment losses reported to the Consumers Association of Singapore (CASE) from 2020 to 2022 are set out in the table below. Most of these losses were due to business closures. While restricting prepayment collection will avoid monetary losses for participating consumers, it will reduce consumer options by making it harder for some businesses to supply goods and services which require advance payment, for example, flight tickets, venue bookings for events and so on and lead to higher prices. The Government's approach has been to help consumers make informed decisions and manage prepayment risks. For instance, CaseTrust-accredited businesses in some sectors offer prepayment protection that enables consumers to claim back unused prepayments if the business closes down. We will work with CASE to monitor the situation and calibrate our approach as necessary.”
“The residual current circuit breaker (RCCB) is an electrical safety device that cuts off electricity supply immediately upon the detection of current leakages, to reduce risks of electric shocks. All residential premises will be required to have an RCCB installed from 1 July 2023. Home owners will be given a grace period of two years, till 1 July 2025, to comply with this new requirement. Thereafter, they may face a fine of up to $5,000 for non-compliance. Since July 1985, it has been a requirement for all new homes to be installed with RCCBs. For residential premises built before 1985, most would have undergone renovations, and had an RCCB installed. A small number of residential premises built before July 1985 may still be using their original electrical circuits without an RCCB installed. The Housing and Development Board (HDB) has notified all residents living in 1-room and 2-room HDB flats built before July 1985 of this requirement and will be progressively notifying residents living in 3-room and larger flats built before July 1985. The Energy Market Authority has separately notified all home owners of private properties. Beyond the written notification, HDB has conducted door-to-door inspections for all 1-room and 2-room HDB flats built prior to July 1985 and completed RCCB installations for inspected units without an RCCB. For the minority of residents who did not respond to the earlier round of inspections, HDB will arrange for follow-up inspections and RCCB installations. These home owners will not have to bear any cost for inspection and RCCB installation. HDB will also work with grassroots leaders to provide further assistance to the elderly on this matter, if needed.”
“The amount in default for working capital loans given out from 2020 to 2022, which comprise the Temporary Bridging Loan Programme and the Enterprise Financing Scheme (EFS) – Small and Medium Enterprise (SME) Working Capital Loan, is 1.8% of the total loan amount, or $439 million. The amount in default for the EFS-Trade Loan given out over the same period is 1.2% of the total loan amount, or $84 million. These loan default rates are lower than the overall EFS loan default rate of around 3.8% observed for loans given out before the COVID-19 pandemic. Companies default on their loan repayments for a variety of reasons, and we are unable to ascertain the numbers that were due to business failure caused by the impact of the COVID-19 pandemic.”
“Electricity consumption is likely to be higher during the hotter months of April and May. This year, peak electricity demand increased by about 8% from 7.3 gigawatts in February to 7.9 gigawatts in May. We have sufficient generation and grid capacity to meet the increased electricity demand arising from higher temperatures. The existing installed capacity of Combined Cycle Gas Turbines used for power generation is 9.4 gigawatts, higher than the peak electricity demand we experienced. Changes in climatic conditions are taken into consideration when the Energy Market Authority (EMA) updates its annual electricity demand forecasts. These forecasts also include projected demand from different sectors of society and the economy, including the growth of the electric vehicle population and the deployment of electric vehicle charging infrastructure. EMA uses the forecasts to plan for investments in electricity infrastructure. First, the forecast guides generation capacity investments. EMA announced earlier that it will introduce a centralised tender approach this year to facilitate and guide private investments in new generation capacity. Should there be inadequate interest from the private sector to plant new capacity, EMA will build the required new capacity. This is to ensure that there is sufficient generation capacity to meet forecasted electricity demand. Second, the forecast also guides investments by SP Group to upgrade our power grid network to meet projected electricity demand and the stringent grid reliability standards set by EMA.”
“While MTI does not expect a technical recession this year, the possibility cannot be ruled out, given increased downside risks to the global economy. To help businesses navigate this uncertain global economic environment, the Government has introduced several near-term support measures at Budget 2023, including the enhancement of the Enterprise Financing Scheme and the Energy Efficiency Grant. Should the business environment deteriorate sharply, we will recalibrate our measures to support businesses. We also continue to strengthen Singapore's global trade competitiveness. First, we continue to expand our network of Free Trade Agreements, as well as other economic agreements and partnerships, including digital and green economy trade agreements. Second, we are stepping up efforts to diversify and grow exports by helping our companies to access new markets, including those in Southeast Asia, Latin America, the Middle East and Africa. In particular, enterprises can tap on Enterprise Singapore's Market Readiness Assistance grant, as well as support from its network of 36 overseas centres and partners. Third, we are embedding Singapore more deeply into global supply chains, by strengthening our companies' regional distribution capabilities and improving the efficiency of our air and sea ports. As we tackle these near-term challenges, we must continue to upgrade our economy for the long term. We recently refreshed most of our 23 Industry Transformation Maps (ITMs), which cover around 80% of our economy, to position Singapore and Singaporeans for our next bound of economic growth. We must implement these ITMs well, so that our firms stay competitive and our workers continue to have good job prospects.”
“Singapore's exports have declined because global demand has weakened significantly due to the slowdown in major economies. The global electronics industry is also in a deep and prolonged downturn. Rising global interest rates to combat inflation have also dampened the economic situation. Like many central banks around the world, the Monetary Authority of Singapore has tightened monetary policy to tackle high inflation. The appreciation of the Singapore dollar has dampened the effects of global price increases and eased cost pressures on businesses operating in Singapore, as well as on consumers. The underlying competitiveness of our economy, including as a manufacturing and trade hub, remains intact. Singapore is ranked top in Asia and fourth globally in the latest International Institute for Management Development World Competitiveness Ranking. In particular, Singapore continues to do well in areas, such as international trade and employment, while making gains in areas, such as people and talent management, as well as productivity and efficiency. Investments also continue to flow into Singapore, including into our manufacturing sector, a key export sector. The Ministry of Trade and Industry (MTI) expects economic and trade conditions to remain sluggish for the rest of the year. Downside risks in the global economy have also risen, including the impact of recent banking stresses abroad on global financial and economic conditions. However, the ongoing recovery of our aviation- and tourism-related sectors, as well as the resilience of our consumer-facing sectors, will provide some support to the economy. For 2023 as a whole, MTI expects the Singapore economy to expand by 0.5% to 2.5%, with growth likely to come in at around the mid-point of the range.”
“Around 95% of Singapore's electricity is generated using natural gas, which can be transported through pipelines from Indonesia and Malaysia, or as Liquefied Natural Gas (LNG) on ships. LNG supply contracts are negotiated by our importers on a commercial basis. We are unable to divulge the specifics of these contracts, including their volumes and expiry dates, as these are commercially sensitive. Our LNG importers source globally, including from Australia, Qatar, the United States, Indonesia and other countries. This mitigates the impact of a disruption of any single natural gas supply source on our short-term energy security. On average, LNG from Indonesia was less than 1% of our annual natural gas imports between 2020 and 2022. Singapore will continue to ensure that our energy sources are well diversified, as well as press on with our efforts to decarbonise the power sector and enhance our energy security.”
“The manufacturing sector contracted by 5.6% year-on-year in the first quarter of 2023. The outlook for the sector for the rest of 2023 remains weak, given the slowdown in the global economy and the electronics downcycle. The downturn in the manufacturing sector is expected to dampen the performance of sectors that facilitate the trading of manufactured goods, such as the wholesale trade and water transport sectors.”
“Amidst strong economic headwinds, we must strengthen efforts to keep Singapore competitive, continue to attract investments, generate growth and create good jobs for Singaporeans. Our fundamentals remain strong and we expect to meet our medium-term investment commitment targets, barring unforeseen circumstances.”
“The Ministry had previously provided data on total tariff savings from our network of 27 Free Trade Agreements (FTAs) in the reply to Question No 59 for Oral Answer on the Order Paper for 8 November 2022. [Please refer to "Free Trade Agreement with Most Trade Benefits and Minimised Imported Costs and Inflationary Pressures", Official Report, 8 November 2022, Vol 95, Issue 74, Written Answers to Questions for Oral Answer not Answered by End of Question Time section.] It is not meaningful to compare tariff savings across FTAs. In addition to tariff savings, there are other benefits of FTAs which cannot be readily quantified. These include elements that facilitate a more conducive business environment, such as stronger intellectual property and investment protection, increased transparency of regulations and trade facilitation.”
“We had shared in Parliament on 23 February 2023 (i) the number of individuals accorded permanent residency through the Global Investor Programme (GIP), and (ii) the investment, total business expenditure figures and jobs generated by GIP investors via the more than 40 approved funds under the scheme. [Please refer to "Individuals who have Leveraged on Global Investor Programme to Qualify for Permanent Residency", Official Report, 23 February 2023, Vol 95, Issue 85, Oral Answers to Questions section.] We do not actively track the investment returns to the individual funds.”
“The Government does not disclose information on any potential investor or project.”
“The amount of gaming revenue of each Integrated Resort is publicly available in the annual reports of Las Vegas Sands Corporation and Genting Singapore, parent companies of the Integrated Resorts. We do not track the breakdown of gaming revenue received from Singapore Citizens, Permanent Residents and foreigners.”
“As the purpose of Enterprise Singapore's grants, such as the Enterprise Development Grant and the Productivity Solutions Grant, is to support companies in capability building, enterprise transformation and improving productivity, we do not conduct surveys on employee well-being.”
“Thriving enterprises and an agile workforce are crucial to our next phase of growth. MTI will work closely with industry stakeholders to empower businesses to transform and workers to upskill to seize opportunities. We will deepen enterprises’ research and development capabilities and capacity for market-oriented innovation so they can respond more effectively to the changing operating context. We will lower barriers to entry by streamlining regulations and improving service delivery. We will, through a bespoke approach, help promising enterprises internationalise and grow into future Singapore Global Enterprises. Enterprises will also receive support to develop capabilities in sustainability. Our people are the core of our economy. MTI will work with the Ministry of Manpower and Ministry of Education to equip our people with industry-relevant skillsets and ensure better alignment of training to industry needs. MTI will focus our efforts to drive economic growth and create good jobs. We will work with stakeholders to uplift enterprises and workers to capture opportunities and chart the path towards a prosperous and vibrant Singapore.”
“Even as other countries adopt more protectionist measures, Singapore will expand and diversify our trading activities and markets, capture more re-exports and transhipments, and embed Singapore deeper into global supply chains. This strengthens our relevance as a global business hub and anchors high-value economic activities and good jobs here. We will also strengthen our international partnerships to capture new opportunities, arising from Asia’s growth and global trends in digital trade and sustainability. Our growth strategies must be coupled with efforts to secure economic resilience amid heightened risk of global supply chain disruptions. MTI will coordinate supply chain resilience efforts across government to secure critical supplies for Singapore. MTI will help our industries capture opportunities in growth areas and support them in their transformation journey to become more productive and competitive. We will build a strong base of advanced manufacturing industries, including by leveraging technologies such as biotechnology and robotics. Capitalising on global sustainability and digitalisation trends, we will strengthen Singapore’s position as a leading international green hub and seize opportunities in the digital economy. We will also strengthen the nexus between research, innovation and commercialisation to enhance Singapore’s competitive advantage. At the same time, we will address our carbon, land, and manpower resource constraints. We will secure alternative forms of low-carbon energy and support enterprises to improve energy efficiency and reduce their carbon footprint. We will maximise the economic value from the use of industrial land and continue to attract global talent and rainmakers with skills that are complementary to our workforce.”
“Even as Singapore’s economy emerges from the COVID-19 pandemic, new challenges have surfaced. In the near-term, persistent global inflation and a weak global demand outlook will weigh on Singapore’s growth. We will also need to respond to major structural shifts, including an increasingly fragmented geopolitical landscape, accelerating disruptions from emerging technologies, and the global momentum on climate change. Domestically, we will need to pursue economic growth amidst tighter manpower, land and carbon constraints. The Ministry of Trade and Industry (MTI) will step up efforts to grow Singapore’s economy, create good jobs and support businesses and workers in seizing new opportunities. We can turn the challenges ahead into opportunities. Through the way we managed the pandemic, we have proven to businesses and investors that we are reliable partners. The Government will continue to build on our strong fundamentals of efficient infrastructure, extensive connectivity, a highly skilled workforce, and an enabling policy environment, to capture growth opportunities. MTI will press on with our journey towards the Singapore Economy 2030 vision to achieve longer-term, sustainable growth, by expanding our trade, capturing opportunities in the manufacturing and services sectors, and uplifting our enterprises and workers. We will also implement the plans under the Industry Transformation Maps 2025 to strengthen our industries and workforce capabilities. Singapore must continue to remain open, expand our economic space and stay connected to global growth opportunities.”
“I would also like to join my colleagues in thanking all our frontline workers stationed at our supermarkets and warehouses, at our air- and sea-ports, our care facilities and other essential services, for your dedication and sacrifices, which has helped us overcome this crisis of a generation and put us on a strong foundation for recovery. [Applause.]”
“RWS involved all its business units to also set-up and run other CCFs and recruited over 2,000 volunteers to ensure smooth operations. This benefited more than 34,000 COVID-19 patients. These companies and volunteers may not have worked with each other before. They have not met each other but they came together nonetheless, each offering their expertise and resources to ensure the smooth set-up and operation of our CCFs. Mr Edward Chia, Ms Janet Ang and Mr Raj Joshua Thomas highlighted the importance of strong collaboration between the TACs and the Government in times of crisis. Indeed, we have built strong partnerships through regular engagements and collaboration between TACs and Government agencies over the years. During the pandemic, this rapport allowed us to come together very quickly, alongside industry partners, to resolve the challenges we faced. For example, the Singapore Hotel Association and the Singapore Tourism Board worked closely with over 90 hotels across the island, to urgently transform hotels into Government isolation facilities. The Singapore Business Federation worked together with Enterprise Singapore, other TACs, landlords and tenant representatives, on a Code of Conduct for Leasing of Retail Premises. This established industry norms on tenancy practices and terms, which helped resolve rising tensions between landlords and retail tenants regarding Rental Agreements. Finally, let me extend our appreciation to all businesses and TACs for their contributions towards our COVID-19 efforts. Our partnership played an important role in a crisis and we need to continue to strengthen this partnership even in the absence of a crisis.”
“The Meritorious Service Medal (COVID-19) was also awarded to three individuals whose unwavering commitment and exemplary leadership during the COVID-19 pandemic helped us safeguard lives and livelihoods and chart our road to recovery. They are: Prof Kenneth Mak, Director of Medical Services at MOH. He is a familiar face to many Singaporeans due to his professional and calming presence at the MTF's press conferences. He led the efforts of the professional healthcare team in managing the crisis. Mr Pang Kin Keong, Permanent Secretary of MHA, who chaired the Homefront Crisis Executive Group to execute our responses to the pandemic. He and his team of dedicated public servants, helped navigate Singapore safely through the storm. Mr Tan Chong Meng, Lead for the Community Care Facilities (CCF) Taskforce, Temasek COVID-19 Workgroup, co-chairman of the Emerging Stronger Taskforce and Group CEO, PSA International. He coordinated many private sector efforts, including the setting-up of the CCFs and keeping our supply lines open. However, in the end, it is not just individual efforts, but the whole society coming together that ensured that we would prevail. The best example that illustrates the importance of such people-public-private partnerships, is the setting up of the CCFs, where different parties came together quickly and worked together under a tight timeline, with very limited resources, to overcome unknown challenges and achieve a common mission. Companies, like PSA International, Surbana Jurong, SingEx, Certis Cisco, ST Engineering, Parkway Pantai, Sheares Healthcare, Woodlands Health Campus and Resorts World Sentosa (RWS), worked as a team to set up the first 960 beds within record time at the Singapore Expo, which eventually expanded to around 8,000 beds.”
“We will launch a third phase of the Heartlands Go Digital programme later this year. This will tap on the expertise of new partners from the private sector and IHLs to help heartland enterprises develop capabilities in digital marketing and visual merchandising. Even though the worst of the pandemic is behind us, the Government will continue to work with our businesses as you progress along this journey of transformation. Sir, let me conclude. The key lesson we learnt from the pandemic was that there will always be unexpected challenges that will surprise us. We do not know when the next pandemic will happen, or what future crises may be like. But the one thing we can be confident of and rely upon, is the Singapore Spirit – working together, trusting one another and looking out for each other like family. We witnessed this Singapore Spirit, when staff from Scoot, Raffles Medical Group and the Ministry of Foreign Affairs risked their own personal safety to evacuate Singaporeans from Wuhan when the crisis first emerged. When we face the worst crisis, we will see the best in Singaporeans. It is precisely this Singapore Spirit that will see us through future challenges that may come our way. Many people also worked tirelessly behind the scenes to contribute towards our COVID-19 efforts, even taking up functions and responsibilities they were unfamiliar with. A total of about 10,000 individuals and teams from the people, public, healthcare and private sectors will receive the National Awards (COVID-19), in recognition of their contributions to our COVID-19 efforts.”
“As we learnt more from experience and received feedback from industry partners, we simplified our SMMs in the later stages of the pandemic. Striking a balance between mitigating the risk of infection and providing certainty and clarity to businesses and consumers. For example, we simplified our SMMs into five core parameters: group size, mask wearing, workplace requirements, safe distancing and capacity. This allowed us to calibrate and communicate our SMMs more easily and clearly. Therefore, one important lesson we learnt – keep it simple, especially during a crisis. I am glad that despite these disruptions, many of our businesses showed resilience amidst adversity. Many heartland enterprises accelerated their digitalisation efforts, as their physical storefronts and workplaces were closed. This helped them overcome the constraints of the SMMs and grow their businesses. To date, I am happy to say that around 93% of our heartland enterprises have adopted e-payment solutions, which is almost 40% more than before the pandemic. Over two-thirds now have online presence, about 30% more. I am glad to hear from Mr Shawn Huang and other Members in this House about how digitalisation has benefited heartland enterprises in your constituencies. We should thank the business advisors from the Heartland Enterprise Centre Singapore and the digital ambassadors from IMDA's SG Digital Office for their hard work. Together, they conducted over 66,000 ground engagements with heartland enterprises on e-payment and online presence solutions under the Heartlands Go Digital programme. Mr Saktiandi Supaat asked how we would sustain the momentum of these digitalisation efforts. Digitalisation is a journey without an end.”
“Learnings from these pilots were then incorporated into more than 550 events, subsequently, under the Safe Business Events Framework and other strategically important events, such as the Singapore Airshow and the Singapore International Water Week. Although the tourism sector was hard-hit by the pandemic, the efforts of the AfA and other industry partners helped the sector bounce back quickly from the pandemic when international travelling resumed. Notably, we also brought back the Formula 1 night race in 2022, which attracted more than 300,000 participants. This was the largest turnout since we first hosted the race in 2008. As earlier mentioned by Ms Janet Ang, another scheme that gave the sector a boost during the COVID-19 pandemic was the SingapoREdiscover Voucher (SRV) scheme. More than 450 hotels, attractions and tour providers benefited from this SRV scheme. Many of these merchants seized the opportunity to adapt their products for the domestic market and boosted their revenues amidst this challenging period. I am sure many Members and your residents have enjoyed the SRVs. Other segments of our economy that were particularly affected by COVID-19 were our heartland enterprises, retail and F&B sectors. They were the worst-hit by SMMs imposed on business operations. As Mr Seah Kian Peng and Ms He Ting Ru mentioned, the multiple changes and granular differentiations in SMMs for business operations caused uncertainty and disruption for their operations. During the various phases of restrictions and reopening, some SMMs were overly calibrated. This made them difficult to operationalise and caused confusion to businesses and members of the public.”
“We also provided grant support to businesses, such as the nightlife establishments, to pivot to other business activities. The Emerging Stronger Taskforce was set up to chart out our long-term response to the structural shifts in our economy arising from the COVID-19 pandemic. The taskforce worked with partners from businesses, trade associations and chambers (TACs), unions, the Institutes of Higher Learning and the Government to form nine Singapore Together Alliances for Action (AfAs). These AfAs prototyped ideas to address industry challenges and the successful ones were then implemented across the industry. One of the Singapore Together AfAs focused on Enabling Safe and Innovative Visitor Experiences. The AfA was co-chaired by Ms Kwee Wei-Lin, President of the Singapore Hotel Association and Mr Lee Seow Hiang, Chief Executive Officer of Changi Airport Group. It was supported by the Singapore Association of Convention and Exhibition Organisers and the suppliers of the National Association of Travel Agents Singapore, or NATAS. The AfA's mandate was to pilot prototype arrangements for the safe resumption of large-scale international business events, design of safe itineraries for business and meetings, incentives, conferences and exhibitions (MICE) travellers, and deployment of digital enablers to facilitate a safe and seamless journey for visitors. These prototypes were piloted at TravelRevive in November 2020 and Geo Connect Asia in March 2021 – the first international travel roadshows to take place physically in Asia Pacific during the COVID-19 pandemic.”
“Today, we have fully opened our borders. Passenger traffic through Changi Airport is expected to recover to pre-COVID-19 levels by 2024 and we are also making good progress on our long-term infrastructure projects, such as Changi Terminal 5 and Tuas Port. Ms Poh Li San raised the need to support our aviation companies and workers as they continue on the road to recovery. Since the start of the pandemic, the Government has provided close to $2.5 billion of support towards the aviation sector's recovery. With the continued support of our industry partners and workers, I am confident that our status as a hub will grow from strength to strength. The final challenge I want to touch on today, is how we worked with our industries to chart the road to recovery. When the pandemic struck, almost every sector of our economy was affected. Through the eight COVID-19 Budgets, the Government provided more than $72 billion of support for businesses and workers and these include: (a) Enhancements to the Enterprise Financing Scheme and the introduction of the Temporary Bridging Loan Scheme, which helped small and medium enterprises address their cashflow difficulties; (b) Enhancements to capability development grants, like the Enterprise Development Grant, Market Readiness Assistance and Productivity Solutions Grant, which helped businesses transform and enhance their competitive edge in preparation for recovery; (c) Wage support for employers to help them retain their local workers during the COVID-19 pandemic, such as the Job Support Scheme; and (d) Support measures for businesses affected by the SMMs, such as the Rental Support Scheme and Small Business Recovery Grant.”
“For example, when we experienced spikes in local infections, we temporarily suspended the entry of foreigners and Long-Term Pass (LTP) holders, including work pass holders, into Singapore. This was to minimise the number of imported cases to avoid overloading our healthcare system. But, as highlighted by Ms Janet Ang, these restrictions created significant difficulties for the LTP holders, some of whom endured prolonged family separation and disruption to their work. This also affected our global reputation as a hub and open economy and strained the manpower situation of our businesses and services. As we learnt more from experience and understood more about the virus, we were able to strike a better balance and find ways to safely reopen our border. We unilaterally opened to general travellers in late 2020, but we did so gradually, for a handful of very low-risk countries. We regularly updated this list of countries, taking into account COVID-19 transmission trends. When more than 75% of the Singapore population was fully vaccinated, we decided to pilot the Vaccinated Travel Lanes in September 2021. This allowed for a larger number of travellers to enter Singapore, as long as they were fully vaccinated. I would like to thank Singaporeans, Singapore residents and businesses for adjusting to the frequent changes in our border restrictions, and for accommodating the inconveniences and uncertainties caused. These reopening efforts were also supported by our home-grown COVID-19 testing capabilities. The Diagnostics Development Hub worked closely with local medical technology firms MiRXES and Advanced Medtech Holdings to develop and scale-up FORTITUDE and RESOLUTE 2.0 COVID-19 test kits, which were also used to test incoming travellers.”
“As a small and open economy, our connectivity is our lifeline. Border closures are also highly disruptive to businesses, travellers and families. Now, with the benefit of hindsight, we could have erred on the side of caution and tightened border measures earlier when there were signs of virus spreading across borders, even if there had not been any large infection clusters here. As the pandemic persisted, we often had to adjust our plans, sometimes at short notice, to respond to new variants of concern and new COVID-19 waves that emerged overseas. The multiple delays in the launch of the Singapore-Hong Kong air travel bubble, was a notable example. Thereafter, we decided not to call it a travel bubble anymore, because it kept bursting. [Laughter.] One key concern we had in mind when we made decisions on border restrictions was ensuring that workers, especially those in essential services, could still enter Singapore while managing the potential risks of COVID-19 transmission. When Malaysia introduced their Movement Control Order, a sizeable group of Malaysian workers who normally cross the border daily were faced with the dilemma of either staying in Singapore for work and be separated from their families, or potentially giving up their jobs and returning home. Businesses were also affected, with many at risk of critical manpower shortages. We worked with our businesses to introduce several measures, such as the Periodic Commuting Arrangement and Reciprocal Green Lane, to address this problem. We also coordinated closely with our Malaysian counterparts to ensure that the implementation was as smooth as possible. There were also other times when we erred too much on the side of caution, which created disruption and uncertainty for businesses and workers.”
“We will work with the industry and our trade partners to find cost-effective solutions. I would also like to encourage Singaporeans to support our diversification strategy by trying different sources of supplies, different brands when you go about doing your daily shopping. Strengthening our supply chain resilience not only helps us meet our domestic needs, but also helps Singapore strengthen our status as a business and trading hub. Instead of resorting to protectionist measures during the pandemic, we continued to allow our manufacturers and distribution centres based locally to export goods to meet their obligations to their customers. I join Mr Melvin Yong in thanking our transport workers, including our maritime workers. Indeed, because of their dedication, our ports remained open 24/7 amidst disruptions at major transport hubs elsewhere. Singapore played a critical role in ensuring that global supply chains continued to function. We remained the world's largest transhipment hub and our ports continued to rank first in various international maritime indices and rankings. This was due to the efforts of the Maritime and Port Authority of Singapore, the maritime industry, and tripartite partners who worked closely together to keep our ports open while facilitating crew changes safely. PSA Singapore handled record numbers of container throughput in 2021 and 2022. However, people flows were significantly disrupted due to border restrictions overseas and here. These were complex decisions that had to be made urgently and we took a risk-based and calibrated approach to manage our borders. At the beginning, we took some time before deciding to close our borders. This was an unprecedented decision that we did not take lightly.”
“Supermarkets, such as NTUC Fairprice, Sheng Siong and Dairy Farm International Retail Group, also worked very hard to keep our shelves well-stocked. For example, frontliners at Sheng Siong, Mr Sivakumar and Mdm Lee Cheng Hui, were involved in these efforts. At the height of the pandemic, they worked overtime everyday alongside their colleagues to replenish shelves as fast as possible and patiently explained the SMMs to their anxious customers. Mdm Lee also offered Mr Sivakumar the spare room at her home to stay in when borders closed, and he could not commute daily in and out of Singapore. Mr Seah Kian Peng, in his capacity as Chief Executive Officer of NTUC Fairprice, also went out of his way to assure Singaporeans that we had enough supplies and that panic buying was not necessary. Many Members in this House did so, too, including Mr Speaker yourself. Much work also went on behind-the-scenes to ensure that our shelves are restocked regularly. Trucks ferrying supplies from warehouses were coming into some supermarkets twice as frequently, at six to eight times a day. The Government has employed a combination of strategies to enhance our supply chain resilience: first, diversification of imports; second, enhancing our local manufacturing capability; and finally, stockpiling. We have been doing this since before the pandemic. As Dr Tan Wu Meng, Mr Gerald Giam, Mr Liang Eng Hwa and Mr Saktiandi Supaat mentioned, the COVID-19 pandemic has only reinforced the importance of these strategies. The Minister for Health, Mr Ong Ye Kung, earlier explained how we worked with commercial players to secure vaccines and how we will review regulatory levers to improve our response to future public health crises. As mentioned by Mr Saktiandi Supaat, these initiatives do come at a cost.”
“They distributed a total of more than 31 million reusable masks to Singapore residents by the end of 2021. Besides masks, many Singapore companies also supported our efforts to keep our supplies of food and other essential items flowing by maintaining our supply lines. As we know, Singapore imports more than 90% of our food from overseas. We worked with our shipping lines, such as the Pacific International Lines, to deploy ships to ports in the region and beyond, at times at our request, to bring food supplies to Singapore. When Malaysia issued a Movement Control Order in January 2020 and closed the land links with Singapore, we introduced strict "bubble-wrapping" arrangements for Malaysian cross-border delivery workers, to prevent cross-infection with locals when they deliver their supplies to Singapore. We also worked with importers to diversify our import sources. During the pandemic, we secured new import arrangements for eggs, frozen vegetables and frozen chicken from Poland, red sea shrimps from Saudi Arabia, dried fruits from Uzbekistan and tomatoes from Türkiye. We also established the Singapore-New Zealand Airfreight Project, or SNAP in short, in April 2020 to provide a secure, two-way "air bridge" to carry almost 140 metric tons of food supplies to Singapore and medical supplies back to New Zealand. Sixteen local food importers participated in this project and cargo flights by Singapore Airlines and Air New Zealand flew these food supplies to Singapore. Once supplies were brought in from abroad, many Singapore companies also played a part in managing our local distribution network from warehousing to retail shops. PSA International stepped up warehousing capacity to ensure we had sufficient space for our upsized stockpiles of essential goods.”
“In Singapore's case, we were looking at a utilisation rate of more than five million masks each day, around the number required by the public healthcare system for one month. That is 30 times more than our usual consumption. We worked very quickly with the private sector, such as ST Logistics, to source for additional mask supplies from around the world. At the same time, we worked with industry partners, such as ST Engineering, to quickly set up surgical mask production capabilities here. The first batch of made-in-Singapore surgical masks was produced in February 2020. ST Engineering also stood up capabilities to produce the melt-down polypropylene filters in Singapore from January 2021. This made us less reliant on imports of this critical material and enhanced the resilience of our local mask manufacturing capabilities. Various homegrown textile and apparel companies, such as Ghim Li Group and Ramatex, also stepped forward to help produce reusable masks. Many of us would remember the masks with a Merlion logo in your 2020 National Day Parade pack, that was from Ramatex. A*STAR and the Nanyang Technological University also lent their expertise to develop reusable masks that were more effective at reducing COVID-19 transmission, but also more breathable and comfortable. Besides ramping up our mask production, we also worked with various partners to distribute masks island-wide. The Government started distributing masks to all Singapore residents from as early as February 2020, with the support of the SAF and grassroots volunteers from the People's Association (PA). Temasek Foundation funded and led more of these distributions thereafter. Many of you would be familiar with the Temasek Foundation's StayMasked vending machines installed across the island.”
“They worked in the background to secure lifesaving essential supplies, operated the critical facilities or provided services for those infected with COVID-19. People-public-private partnerships played a critical role in helping us overcome the challenges of the COVID-19 pandemic. Today, I will elaborate on three key challenges that impacted our businesses, how we worked with industry partners to overcome them together and the lessons we learnt. First, securing essential supplies and strengthening our supply chain resilience; second, preserving Singapore’s hub status and safely reopening our borders; and, finally, working with our industries to chart our road to recovery. One of the earliest challenges we faced was securing essential supplies and strengthening our supply chain resilience. When countries across the world locked down their economies and closed their borders, production and transport lines were severely disrupted during a time when global demand for essential goods actually surged. Mask supplies was a good example. Mr Gerald Giam asked why we did not have sufficient stockpiles of masks and local production capacity. Prior to the pandemic, masks were rarely worn outside of the clinical environment, even during SARS. Our national stockpile of masks was, therefore, maintained at a level that would be sufficient for the healthcare sector's needs. To supplement our stockpile, Singapore companies produced masks overseas as it is more cost-effective to do so. Therefore, when we decided to require everyone to wear a mask whenever they left their homes, we had a problem. We were faced with an unprecedented situation where everyone in Singapore and around the world was suddenly looking for masks for daily use.”
“Mr Speaker, let me thank Members for their comments and suggestions on the After Action Review. Members’ support during the COVID-19 pandemic played a critical role in rallying fellow Singaporeans to battle against this crisis of a generation together as a nation. Many Members have also spoken about the unprecedented challenges the pandemic had brought and its impact on the economy and businesses. Indeed, the world economy ground to a halt in 2020 and the Singapore economy contracted by 3.9% – our worst recession since Independence. Many businesses were affected by the pandemic. First, they had to implement the various safe management measures, or what we now know as SMMs. Food and beverage (F&B) services, for example, had to observe the dining-in rules, from two to four to zero, to four to two and many changes; and implement the TraceTogether SafeEntry system, or TTSE – many of you have forgotten what they mean. Coupled with a weaker demand, their revenues fell as a result. Some businesses were also affected as their workers fell ill or had to be isolated. Some workers were stranded overseas and could not return to work, because the borders were closed. On the other hand, those in our essential services sectors, such as those producing food and water, electricity and operating public transport, had to keep their operations going to meet the daily needs of Singaporeans even during the circuit breaker, braving the risk of COVID-19 infections. Some businesses had to quickly pivot to new business models and new markets and embark on transformation and training to improve productivity and stay competitive. Beyond coping with the pandemic, the private sector also contributed to our fight against COVID-19.”
“There are about 400 companies on the Global Trader Programme (GTP) today. Mr Chua has asked for tax-related data of GTP companies. It would not be wise to reveal such detailed information on our incentive recipients as it would undermine our economic competitiveness. Nevertheless, the Member may wish to note that the concessionary tax rate for this incentive is either 5% or 10%, depending on the size of economic investments these companies commit to bringing into Singapore. In line with the Global Anti-Base Erosion (GloBE) rules, Singapore’s domestic top-up tax will apply to Multinational Enterprises (MNEs) with annual group revenues of at least 750 million euros. The GTP remains relevant for MNE groups below the revenue threshold.”
“The majority of business grant applications take place on the Business Grants Portal (BGP), which is part of the GoBusiness portal. The portal provides step-by-step guidance on the application process and required documentation. Where possible, we have standardised and simplified application forms and processes. For instance, we have streamlined productivity-related business grants covering more than 17 sectors and across eight agencies into a single scheme called the Productivity Solutions Grant (PSG). Through BGP, applicants can access a standardised application form, which takes about 30 minutes to fill in. For more customised or complex schemes, agencies may require additional supporting documents. Where possible, agencies provide templates or checklists on their respective websites. The Government will and must continue to strike a balance between convenience of application and accountability for use of public monies. Applicants who require assistance on business grants can refer to the Government Assistance e-Adviser on the GoBusiness portal or contact the grant administering agency directly.”
“At the Second Reading of the Gambling Duties Bill on 10 January 2022, Mr Gan Thiam Poh and Mr Louis Chua asked about the expected completion of the two Integrated Resorts’ (IRs) expansion plans. I shared that both IRs had indicated that there would be potential completion delays due to disruptions to the construction industry brought on by the pandemic. The Ministry of Trade and Industry (MTI) and the Singapore Tourism Board (STB) will ensure that MBS fulfils its development obligations, while also considering the impact of the pandemic on the expansion project. MTI and STB are working with MBS to review the development timeline and minimise potential delays.”
“Used cars sold by car dealers on behalf of owners, also known as consignment cars, are consumer-to-consumer (C2C) transactions between the owner and the buyer, where the dealer provides a service to match the buyer to the seller. The Lemon Law only covers business-to-consumer (B2C) transactions and does not cover C2C transactions, which tend to be ad hoc and informal in nature. However, car dealers which misrepresent a C2C transaction as a B2C transaction can be taken to task for engaging in an unfair practice under the Consumer Protection (Fair Trading) Act. Consumers who choose to purchase a used car via the C2C channel, including consignment cars, can refer to the Standard and Functional Evaluation checklist developed by the Consumers Association of Singapore on the checks that might be needed to assess the condition of the used car.”
“The majority of the 23 Industry Transformation Maps have been refreshed and are compatible with our net-zero by 2050 goal.”
“The Price Kaki app, developed by the Consumers Association of Singapore (CASE), allows consumers to compare the prices of items sold at supermarkets. On 1 January 2023, CASE introduced a unit pricing feature on Price Kaki, with the aim of covering over 6,000 items by this year. This feature helps consumers to more easily compare the prices of products with different package sizes and across different brands. This will provide insights on the feasibility and net benefits of unit pricing in Singapore, which we will study carefully, together with CASE.”
“They are also working with our restaurants to see how they can develop food that is more sustainable, that caters not only to the Asian palate but are also more convenient and healthier editions of the food, in line with the Healthier SG approach. I think these are innovations that we will encouraged our traders to embark on so that they develop their own products and services and become leaders in their own field. I think through this, we will continue to grow our trading hub status.”
“So, in exchange for two cups of ice cream, he has given me two more minutes. I will use these two minutes to explain our Trade 2030 strategy. I introduced it last year and we have made good progress. In fact, the last month, we just launched our ITM 2025 for wholesale trade. Particularly, we also have brought in several global traders, like Mr Liang pointed out, that will help us anchor ourselves in the global supply chain. One of them is Ecopetrol, which is the largest oil company in Colombia. They have decided to set up Asia Pacific headquarters in Singapore to conduct their trade in the region. Another company from France, Sucden, which is in soft commodities – they have also set up Asia Pacific headquarters in Singapore as well as set up a new division dealing with grains and oil seeds. I think these are interesting developments. Despite COVID-19, they have decided to expand their trade network and use Singapore as an anchor. There are also new opportunities emerging from sustainability. Biofuels, for example. We have a Spanish company called Cepsa, which has also expanded their operation in Singapore and is looking at using Singapore as their Asia trading hub. These all work towards strengthening Singapore's position as a trading centre. We are also encouraging our traders to not just do trade as traditional trading activities but to look at innovation, develop new products of their own so that they become the leaders in this particular field that they are specialised in. One example is Olam Food Ingredients. This company has been working on innovation with our research institutions and tried to develop new products.”
“Mr Chairman, let me thank Mr Liang for his question. Indeed, I talked about Trade 2030 last year. This year, I had intended to give an update, but the Chairman is very strict on guillotine times. So, I do not have the space to squeeze in —”
“All of us – employers, workers, unions, trade associations and the Government – can all do our part to ensure that Singapore continues to punch above our weight on the global stage and build a strong and vibrant economy for our future generations. [Applause.]”
“Therefore, MTI, in partnership with SkillsFuture Singapore will set up a Green Skills Committee to bring together industry players and training providers to develop green skills in the local workforce that are relevant to industry needs. For a start, we will focus on immediate needs such as training workers to conduct sustainability reporting and equipping them with the skills to operate in new growth areas in the energy sector such as renewable energy and energy storage systems. We will continue to work closely with the industry to identify new demand areas for green skills as this platform grows. Second Minister Tan See Leng and Minister of State Alvin Tan will share more on our efforts to ensure our workforce is well equipped to take on the opportunities under our Singapore Economy 2030 vision. Sir, let me conclude: 2023 will likely not be an easy year for businesses and the Government will not hesitate to provide targeted support where needed. However, we must not lose sight of the longer-term future. Achieving our Singapore Economy 2030 vision will require hard work and in some cases, sacrifices. Companies and workers alike must be prepared and ready for transformation. In the face of rising costs, biting resource constraints and a more challenging international environment, this is the only viable path to long-term growth and success. If there is one thing the COVID-19 pandemic has taught us, it is that when the situation calls for it, Singapore as a country and Singaporeans can be agile and resilient, prepared to make difficult decisions for the greater good and help one another along the way.”
“Third, Enterprise Singapore will introduce Scale-Up X, which are new specialised capability building programmes in areas such as nurturing leadership, enhancing readiness for investments and initial public offering listings and sharpening internationalisation strategies and execution plans. The bench of promising Singapore enterprises has grown in recent years. We aim to work with a pool of about 100 to 200 of such enterprises. For the more ambitious companies, we will give them an additional boost through the SGE initiative so that they may become global leaders in their respective fields. I look forward to the rise of a new generation of SGEs as more Singapore companies make their mark globally. We will be with you every step of the way. Our efforts under the Singapore Economy 2030 vision can only be achieved if we have a high-quality workforce with industry-relevant skill sets and capabilities. As the structural shifts that I had earlier described take root in our economy, we can expect existing jobs to be transformed at a faster pace even as new jobs are being created. Ms Mariam Jaafar and Prof Koh Lian Pin asked specifically how the Government is equipping the Singapore workforce to take on jobs in the green economy. To prepare companies and workers for the transition to a greener future, the Government has worked with tripartite partners to roll out training programmes at various levels, including broader-based courses such as Enterprise Singapore's Enterprise Sustainability Programmes for business executives and sector-specific programmes such as Workforce Singapore's Career Conversion Programme for sustainability professionals. Given the fast-evolving landscape of the green economy, there is a need to ensure that our training programmes remain relevant.”
“We hope to support more local companies like Sing Fuels, which fly Singapore's flag high internationally while contributing significantly to our economy and creating good jobs for Singaporeans. We introduced the Singapore Global Enterprises (SGE) initiative at the COS last year to build a strong slate of locally-grown high-growth companies that can compete against the best in the world. The needs of these companies will differ vastly and they often require dedicated and customised support to meet their specific challenges. Building upon the flagship Scale-Up programme, Enterprise Singapore will partner these companies on their growth journeys in the following ways. First, we will continue to strengthen and deepen the companies' capabilities in developing new products, penetrating new markets and improving their work processes. To help them build sustained innovation as a core competitive strategy, we will support them in undertaking R&D and innovation activities. We will also support companies in expanding their global footprint and diversifying their supply chains. To facilitate this, companies may receive customised financial support from Enterprise Singapore, such as through the co-funding of the establishment of their in-house R&D and innovation centres and efforts to build supply chain resilience. Second, we will develop and deepen our talent pool. Existing schemes like the Singapore Global Executive Programme help local high-growth companies enhance their human capital capabilities and attractiveness as employers. We will also expand the coverage of the Skills Future Enterprise Credit to include Scale-Up and the Singapore Global Executive Programme. This will allow eligible employers to use their credit to offset qualifying expenses under these programmes.”