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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“To decarbonise our power sector, the Ministry of Trade and Industry (MTI) announced in October 2021 that Singapore will import four gigawatts of low-carbon electricity by 2035 through Requests for Proposals (RFPs). Sun Cable has submitted a proposal for discussion with with the Energy Market Authority (EMA) under the RFP process to export 1.75 gigawatts1 of electricity from a solar and battery farm in Australia's Northern Territory to Singapore via a 4,200-kilometre2 subsea cable. All discussions are taken under the RFP framework. As the proposal is still being assessed, we are not able to share any further details. Separately, Singapore and Australia have been working closely to advance cross-border electricity trade. The Singapore-Australia Green Economy Agreement signed on 18 October 2022 facilitates the development of frameworks to support cross-border electricity trading and enhance regional energy connectivity.”
“In the first six months of 2022, EDB secured investment commitments amounting to $8.5 billion in fixed asset investments and $3 billion in total business expenditure. When the projects are fully implemented, they are projected to add $7.5 billion to the economy and create more than 8,000 new jobs.”
“EMA will continue to review and update its risk management measures to ensure that they remain robust and effective.”
“Around 95% of Singapore’s electricity is generated using natural gas, which can be transported through pipelines, or as Liquefied Natural Gas (LNG) on ships. Natural gas pipelines are designed in accordance with international codes and are built with protective features to withstand damage. Nevertheless, the risk of disruption cannot be fully ruled out. Should there be any disruption in our piped gas supply, whether due to sabotage or otherwise, power generation companies are able to switch to alternative fuels, such as regasified LNG or diesel. Power generation companies are required to maintain fuel stockpiles for contingencies. The Singapore LNG Terminal also has sufficient capacity to cater to Singapore’s natural gas needs in the event of a disruption to the supply of piped natural gas. We are mindful of the need to maintain energy security even as we consider importing electricity from the region. We currently import about 100MW of electricity from Laos, which is around 1.5% of our peak electricity demand. As we scale up electricity imports, we will put in place sufficient backup generation capacity to ensure continuous supply even in the event of disruptions. The Energy Market Authority (EMA) also conducts regular exercises with its licensees to ensure they are operationally-ready to manage supply disruptions. Licensees are required to meet performance standards, including recovery time, as part of their standard operating procedures imposed by EMA to ensure the continuity of our electricity supply. EMA monitors the natural gas and electricity system round-the-clock and is ready to activate the contingency or recovery plans when necessary to minimise disruptions to our electricity supply.”
“We will also build a skilled local workforce through initiatives like the Jobs Transformation Map and work with Institutes of Higher Learning to develop more talent in the trading sector. Third, we want to capture more re-exports and transshipment flows, to embed Singapore more deeply into global supply chains. This will strengthen our enterprises’ regional distribution capabilities and enhance their competitiveness. Taken together, these initiatives will help to diversify our sources of growth, widen the types of trading activities we engage in and expand our trade with new and emerging parts of the world.”
“External demand is estimated to account for around 63% of Singapore’s GDP. Our external demand markets are diversified. China, Southeast Asia, the US and Eurozone account for 9.7%, 9.4%, 8.3% and 6.9% of our GDP, respectively. As a small and open economy with a limited domestic market, Singapore remains heavily dependent on external demand for growth. Amidst ongoing geopolitical and economic risks, Singapore must remain a stable, trusted and well-connected location for companies to do business. We have embarked on a few key initiatives under our Trade 2030 strategy to do so. First, we are strengthening economic connectivity and integration. This includes the establishment of regional trade agreements, such as the Regional Comprehensive Economic Partnership (RCEP), the Comprehensive and Progressive Partnership for Trans-Pacific Partnership (CPTPP) and new trade agreements with the Pacific Alliance and Mercosur countries in Latin America. We are also entering into new Digital Economy Agreements and Green Economy Agreements to help our businesses and workers harness new opportunities in these growth areas. Enterprise Singapore has also been helping Singapore firms venture to markets further afield, to diversify beyond the traditional markets in our region. For example, in the first half of this year, it assisted more than 80 Singapore companies with projects in Africa, India and Latin America. In these markets, there are growing opportunities for innovation and technology, as well as in the Manufacturing, Built Environment and Sustainability sectors. Second, we will accelerate efforts to build a strong ecosystem of trading companies and activities, by continuing to attract leading Global Traders and build a strong core of Singapore Global Traders.”
“We expect the global economic environment to remain challenging in the year ahead. Growth in advanced economies, such as the US and Eurozone, is projected to slow due to the ongoing war in Ukraine, and as central banks intensify their synchronised tightening of monetary policy to curb rising inflation globally. Meanwhile, China continues to grapple with domestic COVID-19 outbreaks and a property market downturn. As the US, Eurozone and China are key trading partners to many countries around the world, a slowdown in these economies will have a negative impact on the global economy. As a small and open economy, Singapore will be affected by the economic slowdown in the US, Eurozone and China and the broader slowdown in the global economy. In particular, we expect outward-oriented sectors, such as manufacturing, maritime transport and finance and insurance to be adversely affected. However, we expect recovery in tourism-related and consumer-facing sectors to provide some support to growth. On balance, while Singapore’s economy grew by 4.3% year-on-year in the first three quarters of the year, growth is likely to moderate in the fourth quarter. For 2022 as a whole, the Singapore economy remains on track to expand by "3% to 4%". The Singapore economy is likely to see a further moderation in growth next year, in tandem with the projected global economic slowdown. At the same time, downside risks to the global economy, including from geopolitical tensions, remain significant. MTI is keeping a close watch on developments and we will provide an update on the 2022 and 2023 outlook for Singapore’s economy in November.”
“This involves partnering existing firms to expand their carbon services offerings from Singapore and helping new entrants tap Singapore as a regional gateway for carbon services. To date, we have an ecosystem of over 70 organisations in Singapore providing carbon services, including carbon accounting, project development, as well as trade and legal services. Emerging low-carbon technologies, such as hydrogen and carbon capture, utilisation and storage, can enable decarbonisation while creating economic opportunities. The Government’s Research, Innovation and Enterprise 2025 (RIE2025) Plan is building on its earlier research and development investments, including sustainability-related areas. More than $1 billion under RIE2025 has been allocated for sustainability-related initiatives, including $220 million for resource circularity and water technologies, and $129 million in low-carbon technologies. These initiatives encourage close collaborations between industry and the research community so that solutions developed have commercialisation potential. The Government is strongly committed to supporting and partnering businesses on their sustainability journey. Together, we will also strengthen Singapore’s position as an international financial and economic hub.”
“To support businesses in their sustainability journey, we have introduced several schemes, including the Resource Efficiency Grant for Emissions and the Energy Efficiency Fund, to help them improve their energy efficiency and reduce business costs and emissions as well as improve their competitiveness. Last October, the Government launched the Enterprise Sustainability Programme (ESP) which supports enterprises in building capabilities in sustainability. To date, close to 500 enterprises have participated in ESP sustainability awareness and education programmes, and over 70 sustainability-related projects have been supported. One such project is by a local private bus operator, Yeap Transport. Through ESP, Yeap Transport developed a sustainability roadmap to adopt cleaner vehicles, reduce their carbon footprint and cater to eco-conscious passengers. We will continue to enhance ESP and provide more targeted and sector-specific resources for enterprises to go green. As we push on with decarbonisation, we also see exciting new economic opportunities to further strengthen Singapore’s position as an international financial and economic hub. Green finance, which is a key enabler of the green transition, offers potential economic growth opportunities. To foster green financing and encourage firms to invest in sustainable projects and assets, MAS has introduced the Sustainable Bond Grant Scheme (SBGS) and the Green and Sustainability-Linked Loan Grant Scheme (GSLS). These schemes help defray the additional costs incurred by companies in the conduct of external reviews to be aligned with international principles. Besides green finance, the Government is working closely with companies to develop Singapore as a carbon trading and services hub.”
“My response will also cover the matters raised in the questions by Mr Yip Hon Weng and Mr Christopher de Souza, which are scheduled for a subsequent sitting. To play our part in global climate action, Singapore has committed to reaching net-zero by 2050. The net-zero goal will increasingly become a prerequisite in the expectations of customers and investors. Hence, companies’ commercial interest to decarbonise will also rise. This transition to a low-carbon economy is important to ensure our economy stays competitive and relevant. We understand that the journey to net-zero may entail higher business costs that stem from investing in low-carbon equipment, using sustainable supplies and adopting green processes, including making provisions for the carbon tax and reskilling workers. The Government recognises these challenges and is committed to supporting businesses in their green transition. The Government has announced that the carbon tax will be raised from $5 per tonne of CO2-equivalent (tCO2e) to $50-$80/tCO2e by 2030 to right-price carbon and spur businesses to decarbonise. However, businesses in Emissions-Intensive and Trade-Exposed (EITE) sectors could face greater competition from counterparts in countries with low or no effective carbon prices. To mitigate this impact on near-term competitiveness, we will implement a transition framework for eligible companies in EITE sectors. This is to provide them with a longer runway for their investment and transition towards greener operations.”
“The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has entered into force for Australia, Canada, Japan, Mexico, New Zealand, Peru, Singapore and Vietnam.1 Our total trade with these markets has grown from around S$108 billion in 2019, the first year after the CPTPP entered into force, to S$118 billion in 2021. MTI, EnterpriseSG and the Singapore Business Federation actively reach out to companies to help them understand and utilise Free Trade Agreements (FTA), including through outreach sessions. EnterpriseSG also has a one-stop online portal that companies can use to access information on tariff and non-tariff measures across our network of FTAs.”
“The race promoter, Singapore GP Pte Ltd (SGP), and the Singapore Tourism Board (STB) are working closely together, and with Formula One Management, to make the F1 Singapore Grand Prix more environmentally sustainable. Building on efforts from past races, SGP implemented a series of green initiatives at this year's race. These included using energy-efficient track lights and biodiesel in generators to power parts of the circuit park and adopting biodigesters to convert food waste into compost. STB will also deploy solar panels on the F1 Pit Building by July 2023. SGP has engaged consultancy firm Faithful+Gould to assess the carbon footprint of the F1 Singapore Grand Prix. The assessment is expected to be completed in mid-2023 and will guide SGP as it continues to enhance its sustainability efforts and reduce the carbon footprint of races in the coming years.”
“As the Regional Comprehensive Economic Partnership (RCEP) Agreement only entered into force for Singapore earlier this year, more time will be needed to analyse the take-up rates among local businesses1. MTI, Enterprise Singapore (EnterpriseSG) and the Singapore Business Federation are actively reaching out to companies to help them understand and utilise the RCEP Agreement, including through outreach sessions and by publishing three guidebooks on Trade in Goods, Trade in Services, E-Commerce and Intellectual Property.”
“This year's Formula One Singapore Grand Prix saw a record attendance of 302,000 spectators over three days, the highest since the inaugural race in 2008. As in previous years, at least 40% of the spectators were from overseas. The economic value of the 2022 race is still being assessed, but the race has usually generated around $130 million per year in incremental spending from tourists attending the race. The F1 Singapore Grand Prix also directly supports local businesses in the engineering, construction and hospitality sectors, as most of the race-related works are sub-contracted to Singapore-based companies in these sectors. About 30,000 staff, contractors and stakeholders were accredited to work at the race. The race also provided a boost to our hotel industry, as the average hotel room rates during the race exceeded the historical high of $440 per night for previous F1 periods. Our local economy was further boosted by 90,000 delegates attending about 25 Meetings, Incentives, Conferences and Exhibitions events which were held around the race period this year, including the TIME100 Leadership Forum, the Forbes Global CEO Conference and the Milken Institute Asia Summit.”
“We do not specifically track the number of shipyards in Singapore that are actively performing building, conversion or repair works on vessels. However, there are, currently, 70 shipyards registered with MPA where vessels calling at them enjoy port dues concession. The Singapore Government is working closely with the industry to equip the sector with the skills and capacity to decarbonise and seize opportunities in the green economy, such as in offshore renewable energy and the electrification of vessels. Together with the Association of Singapore Marine Industries (ASMI), we have developed several sustainability initiatives, including courses to encourage shipyard operators to reduce their emissions. A*STAR has also dedicated funds for R&D efforts in key areas of opportunity, such as offshore renewable energy, marine electrification, cleaner fuels supply chain and smart ocean systems. To upskill the marine workforce, Workforce Singapore (WSG) offers career conversion programmes (CCPs) for marine and sustainability professionals to build their capabilities in sustainable practices.”
“New developments near marine and coastal areas, including cruise and ferry infrastructure, undergo an in-depth consultation process with relevant technical agencies, such as the National Environment Agency (NEA), National Parks Board (NParks), Maritime and Port Authority of Singapore (MPA) and Singapore Food Agency (SFA) to discuss the scope of works, the possible environmental impact and mitigation measures. Where required, environmental studies, such as environmental impact assessments (EIAs), which, typically, include environmental baseline surveys and the development of mitigation measures, will be carried out. Such reports are, generally, made publicly available unless there are specific reasons to maintain confidentiality, such as security considerations.”
“"Right-to-repair" is a nascent issue, and the aim and scope of such a policy differs across countries. Right-to-repair requirements may also affect the pricing of such electronic devices. The Government is monitoring the global discussions to help us assess if a similar legislation is suitable for Singapore.”
“Singapore's tourism industry is recovering well. In the first eight months of 2022, Singapore received three million visitor arrivals, nearly 20 times more, compared to the same period in 2021. When compared to nine key competitor cities, Singapore remains the top destination for both leisure and business travellers in the Singapore Tourism Board's (STB) Brand Health Survey of Singapore's top 15 markets. Singapore does not compete for international travellers based on cost alone. Our value proposition rests on the quality of our products, services, experiences, efficiency and connectivity to the region and the world. At the start of this year, STB outlined its strategy to grow the tourism industry called Tourism 203X (T203X). This is built on several key pillars. These include growing our position as the Global-Asia node for business tourism; injecting more "fun" into our events and experiences; becoming one of the world's most sustainable urban destinations; and becoming an urban wellness haven. STB is anchoring these activities through SingapoReimagine, its global marketing campaign to keep Singapore top-of-mind. The SingapoReimagine Marketing Programme (SMP) helps our tourism and lifestyle industries deliver innovative marketing campaigns in overseas markets to strengthen Singapore's appeal as a choice destination for business and leisure travel. STB will also continue to deepen its strategic partnerships with airlines, travel agents and financial institutions, which can help drive visitor arrivals and spend in Singapore. We will continue to strengthen Singapore's attractiveness as a travel destination and support our tourism industry to offer unique, quality experiences and products to the world.”
“The recent ban on rice exports by India applies to the category of broken rice, of which consumption in Singapore is low. Thus far, there have been no confirmed plans by Thailand and Vietnam on raising export prices for rice. Singapore has a multi-pronged strategy of import diversification and stockpiling to manage supply chain disruptions to rice imports. Under the Rice Stockpile Scheme (RSS), rice importers are required to hold a buffer inventory equivalent to twice their monthly imports. This helps to ensure an adequate supply of rice in the market. We review the inventory buffers regularly and stand ready to work closely with the industry if any adjustments are required. In addition, a strong Singapore dollar through the Monetary Authority of Singapore (MAS)' tightening of monetary policy will help to mitigate the impact of higher rice and other food import prices. The Government has also provided support packages to assist lower-income and vulnerable Singaporeans, such as the $1.5 billion support package announced by the Ministry of Finance (MOF) in June this year.”
“Between October and December 2021, six electricity retailers exited the open electricity market. Affected household consumers were transferred to SP Services. Some subsequently entered into new electricity plans with other retailers. As at end-August 2022, around 58% of household consumers were on SP Services' regulated tariff, compared to around 50% a year ago, before the global energy crisis started.”
“These suppliers have since ceased their unfair practices, and either signed VCAs with CASE or provided undertakings to CCCS. The Ministry of Trade and Industry (MTI) and CCCS regularly review our consumer protection regime to ensure its relevance and adequate protection for consumers. Most businesses are responsible in their practices and seek to serve their customers well. We will continue to work with CASE and industry partners to protect and empower consumers.”
“The Consumer Protection (Fair Trading) Act (CPFTA) prescribes a list of unfair practices that suppliers must not engage in. An example would be the act of exerting undue pressure or undue influence on the consumer to enter a transaction. Consumers who encounter such practices may seek redress by approaching the Consumers Association of Singapore (CASE) for assistance. CASE can represent a consumer to negotiate a settlement with an errant supplier or mediate between a consumer and an errant supplier. There are, currently, 11 frontline officers in CASE who assist consumers in dispute resolution. If negotiation or mediation fails, consumers have the option of filing a claim with the Small Claims Tribunal or seeking other forms of legal redress. The State Courts' Central Registry is available to help consumers who have filed their claims with the Small Claims Tribunal. Unrepresented consumers who need legal advice may approach the Community Justice Centre for assistance. For incidents of unfair practices, CASE may ask the supplier to enter into a Voluntary Compliance Agreement (VCA), which can include the undertaking not to engage in any unfair practices and to compensate the affected consumers. In egregious cases, CASE will refer errant suppliers to the Competition and Consumer Commission of Singapore (CCCS) for investigation under CPFTA. CCCS may then apply for a Court injunction to restrain the supplier from engaging in the unfair practice. The Courts may also make accompanying orders, which include requiring the supplier to notify consumers of the injunction order and to report to CCCS any change to its business, such as the setting up of new branches. In the last five years, CCCS had investigated five cases involving pressure sales tactics.”
“We understand from the Singapore Motor Workshop Association (SMWA) that their Training Academy has trained around 100 automotive technicians to maintain hybrid and electric vehicles (EV) since January 2021. SMWA shared that their courses have been affected by COVID-19 restrictions. However, alternative training providers in the same field are also increasingly available. SMWA is reviewing their plans on the number of automotive technicians to be trained. More broadly, Government agencies such as the Land Transport Authority (LTA), Enterprise Singapore (EnterpriseSG), SkillsFuture Singapore (SSG) and Workforce Singapore (WSG) are also working with the Institutes of Higher Learning and the industry to facilitate the upskilling of the workforce in EV maintenance roles. Between December 2020 and September 2022, 13 automotive workshops have been awarded the Enterprise Development Grant to build new capabilities to maintain EV and charging systems. No automotive workshops have tapped on the Enterprise Financing Scheme for this purpose.”
“The duration of SME Centres' engagement with their clients varies, depending on the nature and complexity of the assistance rendered. Most companies engage SME Centres for business advisory services, including on capability and business development, Government assistance, as well as safe management measures during the pandemic. On average, SME Centres conduct about 20,000 business advisory sessions annually. SME Centres also work with relevant industry players to organise capability-building workshops on key areas such as productivity improvement, digitalisation, innovation and internationalisation. SME Centres conduct an average of 190 workshops, reaching out to more than 6,000 small and medium enterprises (SMEs) annually. The indicators used to measure success depends on the types of assistance rendered. Simple consultations are tracked on an output basis, such as the number of SMEs that participated in capability workshops, whereas some cases involving more in-depth consultation and facilitation are tracked based on the project-specific outcomes. For example, Asyura Paste, previously a home-based business, approached SME Centre@SMCCI (Singapore Malay Chamber of Commerce and Industry) in 2018 for advice on internationalisation and productivity improvement. Given the focus areas of the project, outcome indicators such as sales volumes, sales channels and international presence are tracked. With guidance from the Business Advisors, Asyura Paste had significantly improved both its sales volume and channels. It had also built up a presence in China. I encourage SMEs to leverage the comprehensive suite of assistance schemes available, including SME Centres, to kickstart their growth and transformation.”
“Singapore proactively diversifies our economic relations and industry development. We have strong economic ties with many countries and are party to many free trade agreements such as the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This strategy allows us to mitigate cyclical and country-specific risks. Within this context, Singapore has good economic relations with China, which is our largest trading partner, accounting for 14.2% of our merchandise trade in 2021 and our top investment destination, with 14.4% of Singapore's stock of direct investment abroad in 2020. China's strong growth over the years has benefited Singapore's and the world's economy. Our government-to-government projects with China are doing well. For instance, the Chongqing Connectivity Initiative – New International Land-Sea Trade Corridor has enhanced connectivity between Singapore and China, with cargo flows growing 30% year-on-year in the first half of 2022. Bilateral cooperation in the China-Singapore Suzhou Industrial Park continues to expand, with recent investments in the biomedical sector, financial services and advanced manufacturing. These projects are underpinned by a strategic commitment on both sides and are less vulnerable to the vagaries of economic cycles.”
“Overbooking is a common practice in the global cruise industry. Cruise operators allow some bookings above their capacity in anticipation of cancellations and no shows. This allows cruise operators to make more sailing date options available for consumers, avoiding situations where fully booked sailings are not available for sale and yet there are empty cabins due to cancellations or no-shows. In addition, if cruise operators are not able to balance the impact of cancellations and no-shows on their revenue through overbooking, this may result in higher cruise fares to account for the revenue loss. Importantly, when consumers are affected, it is the duty of cruise operators to offer adequate compensation or reschedule the bookings. So far, all affected passengers in Singapore have been compensated by cruise operators. The Singapore Tourism Board (STB) will continue to engage cruise lines to ensure that this practice is carried out responsibly and the high standards of cruise experiences from Singapore is maintained.”
“New developments near marine and coastal areas, including cruise and ferry infrastructure, undergo an in-depth consultation process with relevant technical agencies such as the National Environment Agency (NEA), National Parks Board (NParks), Maritime and Port Authority of Singapore (MPA) and Singapore Food Agency (SFA). This involves discussions on the scope of works, the possible environmental impact and mitigation measures. Where required, environmental studies, such as Environmental Impact Assessments (EIAs), will be conducted by the Singapore Tourism Board (STB). Mitigation measures will also be implemented during the development phase. All ships, including cruise ships, are required to comply with the International Convention for the Prevention of Pollution from Ships (MARPOL) for waste disposal. Cruise ships engage NEA-licensed service providers to collect waste such as oily water and sewage while at the terminals. MPA regularly inspects ships in port to ensure that waste onboard is not disposed indiscriminately. MPA also provides garbage collection services for vessels at anchorages. Under the Prevention of Pollution of the Sea Act, penalties for improper disposal of waste into the sea include a fine not exceeding $20,000 or imprisonment for a term not exceeding six months, or both. The global cruise industry is at the forefront of the maritime sector in developing innovative technologies and has invested more than US$26 billion in new ships with energy efficient technologies and cleaner fuels. In line with the Singapore Green Plan 2030, Singapore is well-positioned to facilitate the cruise industry’s shift towards a more sustainable future. We will continue working with the cruise industry to implement more sustainable and environmentally friendly practices.”
“The Ministry of Trade and Industry (MTI) does not collect data on the customer experience and standards of the hospitality and retail sectors. For such information, we will refer to data or surveys from external sources. For example, Singapore Management University (SMU)'s Institute of Service Excellence (ISE) publishes a yearly Customer Satisfaction Index of Singapore (CSISG), while The Straits Times and Statista have produced a ranking of "Singapore's Best Customer Service 2022/23". Some of the metrics used to rank Singapore’s retailers and service providers include (a) the quality of communication, (b) professional competence, (c) range of services, (d) customer focus and (e) accessibility. Based on the data from CSISG, the scores for the retail sector declined in 2020 with the onset of the COVID-19 pandemic. While there has been some improvement, customer satisfaction is not back to pre-pandemic levels. Similar data for the hotel sector is not available as SMU’s ISE discontinued the survey in 2020. This was due to the low level of international visitor arrivals during the pandemic and other priorities of the university. Going forward, Singapore Tourism Board (STB) will review how they can assess the level of customer satisfaction through individual hotel surveys.”
“The Enterprise Development Grant (EDG), helps Singapore businesses build capabilities, innovate and internationalise. From Financial Year (FY) 2019 to 2021, Enterprise Singapore received over 20,400 EDG applications. Approximately 85% of complete submissions were approved. Many enterprises that receive the EDG implement transformation projects over a few years. About 80% of the EDG projects were completed and received the grant within three years. The Productivity Solutions Grant (PSG), supports businesses in their adoption of pre-scoped digital solutions, equipment and consultancy services. Between FY2019 and FY2021, over 116,100 PSG applications were received. Nearly 95% of complete submissions were approved. The time taken to implement PSG solutions tends to be shorter compared to EDG. Close to 80% of the approved projects were completed and received the funds within 13 months. It is a key priority of the Ministry of Trade and Industry (MTI) and Enterprise Singapore to help companies upgrade their capabilities and become more competitive. No application has been turned away due to budgetary constraints. In fact, we have provided more support when needed. For example, to encourage businesses to continue to digitalise, restructure and transform during the pandemic, we raised the maximum support levels for EDG and PSG to 90% and 80% respectively, up from 70% before COVID-19. As a result, the demand for EDG and PSG rose and exceeded pre-pandemic levels. The Government topped up funding for these schemes during the 2020 Resilience Budget and October 2020 Ministerial Statement. As Singapore emerges from the pandemic, we encourage more companies to tap the suite of enterprise development schemes available to strengthen their capabilities and seize new growth opportunities.”
“The Consumers Association of Singapore (CASE) received a total of 1,216 complaints in the last five years pertaining to pressure sales tactics (see Table below for breakdown). As for the Police, they do not track consumer complaints which are civil in nature. Under the Consumer Protection (Fair Trading) Act (CPFTA), it is an unfair practice for suppliers to take advantage of a consumer by exerting undue pressure or undue influence on the consumer to enter a transaction. Consumers who encounter such unfair practices and need assistance in seeking redress may approach CASE. CASE can represent a consumer in corresponding with an errant supplier to reach a settlement, or act as a mediator between a consumer and an errant supplier. Should negotiation or mediation fail, consumers have the option to file a claim with the Small Claims Tribunal or seek other forms of legal redress. In egregious cases, CASE will refer errant suppliers to the Competition and Consumer Commission of Singapore (CCCS) for investigation under CPFTA. In the last five years, CCCS investigated five cases involving pressure sales tactics. These suppliers have ceased their unfair practices and either signed Voluntary Compliance Agreements with CASE or provided undertakings to CCCS.”
“Recent investments by Globalfoundries, UMC, Siltronics, and Pall Corporation are testament to the strong partnership that we have built with the industry leaders. We also work with partner manufacturers to conduct complementary activities in Singapore, including in R&D and supply chain management, to diversify their base of activities and deepen their operations here. In addition, we are also working with them to address their longer-term challenges, including to achieve their sustainability ambitions. Collectively, we believe that these strategies will allow Singapore to continue to grow and develop the sector, to ensure we remain a critical node in the global semiconductor value chain amidst the intensified competition.”
“The semiconductor sector is currently our largest manufacturing segment, contributing 7% of our GDP in 2021. Notwithstanding the 4.1% year-on-year decline in semiconductor manufacturing output in July 2022, the sector has grown at a Compound Annual Growth Rate (CAGR) of 10.6% over the past 10 years. We expect medium-to-long term growth in the semiconductor industry to be robust given the megatrends of automation, industrial Internet of Things, 5G and Artificial Intelligence. However, we expect global competition for semiconductor investments to intensify, for economic and strategic reasons. The CHIPS and Science Act is an example of how other countries are introducing measures to attract semiconductor investments. Under the Act, a total of US$52.7 billion in subsidies is earmarked to support semiconductor manufacturing and research, of which US$39 billion is dedicated to subsidising the building of new fabs in the US. Spurred by the recent passing of the Act, companies such as Intel have announced plans to increase semiconductor production in the US. We must maintain our competitive position in the face of such challenges. But we cannot compete on the basis of financial incentives alone. Our strong fundamentals, including our stability, robust intellectual property protection regime, and skilled workforce, have allowed us to develop and grow the semiconductor sector over the decades. To support the growth in the sector, the Government has continued to partner key companies across the value chain, many of whom are global leaders in the sector, to invest in leading edge manufacturing capacities and workforce training in Singapore.”
“The Pro-Enterprise Panel (PEP) is a private-public panel chaired by the Head of Civil Service. The PEP seeks to enable a business-friendly environment by regularly reviewing Government rules and regulations to encourage innovation, streamline processes and minimise compliance costs for businesses. Since its inception in 2000, the PEP has initiated more than 1,100 changes in rules or regulations across various industries and domains. For example, PEP fostered collaborations between the private and public sectors led to the development of the Gobusiness portal, a one stop portal that allows users to gain access to over 300 Government-to-Business services, such as registering a business and applying for licences and grants. The PEP also facilitated the introduction of novel business ideas like Drive lah’s peer-to-peer car sharing model, The Gym Pod, a 24/7 pay-per-use unmanned container gyms in parks and HDB Estates, and the Shipping Container Hotel, who have just launched their third venue at Gardens by the Bay. We are in an era where new technologies and business models emerge constantly to disrupt traditional ones. Going forward, the PEP will focus greater attention on making our regulations more agile and smart to enable businesses to seize new opportunities while safeguarding public safety and interest. Together with our PEP members, agencies, and industry partners, we will create an environment in Singapore for businesses to grow and innovate.”
“Introduced in January 2021, the Tech.Pass is a visa that targets highly accomplished tech entrepreneurs, business leaders, and technical experts. The eligibility criteria is stringent. Tech.Pass candidates must meet at least two out of three criteria, which include having a fixed monthly salary of at least S$20,000 a month, having at least five cumulative years of experience in a leading role in a sizeable tech firm, or having at least five cumulative years of experience in a leading role in the development of a tech product that has at least 100,000 monthly active users. As at 31 July 2022, EDB has received more than 450 applications, of which around 250 have been approved. The median monthly income of Tech.Pass holders is around S$30,000. The Tech.Pass is only valid for two years in the first instance. To be eligible for renewal, existing pass holders must make contributions to our economy and the creation of job opportunities for the tech ecosystem. They must meet either the assessable income requirement or specific requirements on total annual business spending and job creation for Singaporeans. Pass holders must also have contributed to Singapore’s tech ecosystem by having taken on at least two roles. These roles could include having founded a tech company in Singapore; served as a lecturer in an Institute of Higher Learning; invested in one or more Singapore based tech companies; or served on Boards of Directors of a Singapore company.”
“The Global Ready Talent Programme (GRT) was launched in 2019 to support businesses in providing more local and overseas internship placements for students, as well as overseas work placements for management associates (MAs) comprising fresh graduates or young talent with less than three years of work experience. Despite COVID-19 travel restrictions in the last two years, approximately 18,500 local interns and MAs have benefitted from the GRT since its launch, of which over 80% were in Professional, Manager, Executive and Technician (PMET)-type roles (see Table 1 for breakdown). We encourage more companies to come onboard GRT to grow their pipeline of global ready talent.”
“EntrePass was introduced in end-2003 as a visa for foreign entrepreneurs to start and operate a new business in Singapore. In its first decade, to boost entrepreneurial spirit in Singapore, pass holders from diverse sectors were supported. There were typically 1,000 to 2,000 EntrePass holders at any point during those years. In 2013, the scheme was repositioned to focus only on entrepreneurs from innovative businesses to reflect our shift towards a knowledge-based economy. Over the next four years, the number of EntrePass holders fell to around 200 to 400. In August 2017, to strengthen Singapore’s positioning as the Global-Asia Node of Technology, Innovation and Enterprise and a leading startup location, the EntrePass scheme was enhanced to facilitate the entry and stay of experienced serial entrepreneurs, experienced investors and high-calibre innovators of disruptive or venture-backed startups. EntrePass is granted for one to two years, with passholders subjected to increasing local job creation and business spending renewal requirements every two years. As at 31 July 2022, there are currently around 700 EntrePass holders in Singapore, of which more than half are renewed passholders, and the remainder first-time passholders. Tech.Pass was introduced in January 2021 as a visa that targets highly accomplished global tech entrepreneurs, business leaders and technical experts. As at 31 July 2022, EDB has approved around 250 unique Tech.Pass applications.”
“The United Nations Convention on the Law of the Sea (UNCLOS) and the Implementation Agreement (IA) for Part XI of UNCLOS set out the legal framework and obligations for deep seabed mining and related activities in the areas of the seabed, ocean floor and subsoil thereof, beyond the limits of national jurisdiction. The International Seabed Authority (ISA), established under UNCLOS and IA, regulates all such activities. Singapore is a member of the ISA Council, which is developing the rules, regulations and procedures (RRPs) for exploitation activities, to ensure that any such activity, if and when permitted, is done without harming the marine environment. We fully support the adoption of robust, clear and comprehensive RRPs by the Council before any exploitation activity is authorised to commence. Singapore is firmly committed to safeguarding the health of the ocean and will ensure that any activities carried out by our companies are consistent with international laws, including the RRPs adopted by the ISA. Through a notification which took effect on July 2021, the Republic of Nauru requested that the ISA finalise the RRPs within two years (i.e. by July 2023) as provided for under UNCLOS and the IA. As a responsible member of the ISA Council, Singapore will participate actively, and contribute to the development and adoption of the RRPs.”
“The Ministry of Trade and Industry (MTI) does not have data on the percentage of retail properties owned by the Government, Government- and Temasek-linked entities and companies.”
“Nominal productivity1 declined by 0.4%, while nominal income2 declined by 0.6% in 2020. This was a reversal from the previous 10 years (i.e. 2009 to 2019), when nominal productivity and income rose by 4.1% and 4.5% per annum, respectively. As economic activity and the labour market recovered from the pandemic, nominal productivity and nominal income rebounded by 9.5% and 3.2% respectively in 2021. In level terms, nominal productivity and nominal income had recovered to 9.0% and 2.6% above their respective pre-pandemic (i.e. 2019) levels by 2021.”
“A stronger Singapore dollar helps dampen inflation and preserve the purchasing power of businesses and households by making imports cheaper. However, a stronger Singapore dollar may also make it more expensive for foreigners to visit Singapore. Thus far, Singapore remains an attractive destination for travellers. In the first half of 2022, Singapore received 1.5 million visitor arrivals, nearly 12 times more compared to the same period in 2021, which recorded 119,000 visitor arrivals. Tourism receipts reached an estimated S$1.3 billion in the first quarter of this year, a 213% year-on-year increase over the same period last year, albeit from a lower base due to COVID-19 restrictions last year. Singapore cannot compete for Meetings, Incentives, Conferences and Exhibitions (MICE) events on cost alone. Our value proposition must rest on the quality of our products, services, experiences, efficiency, and connectivity to the region and the world. We have secured a robust pipeline of MICE events in the second half of this year, including Medical Fair Asia, Food and Hotel Asia Food & Beverage, Bloomberg New Economy Forum, and Milken Institute Asia Summit 2022. We also continue to see strong interest from event organisers, which indicates that Singapore remains a choice location for world-class MICE events. That said, we will still need to watch our cost competitiveness carefully. STB will continue to support event organisers through the Business Events in Singapore (BEiS) scheme, the unique leisure experiences in our In Singapore Incentives & Rewards (INSPIRE) Global scheme, and the support provided by our tourism partners through the Singapore MICE Advantage Programme (SMAP).”
“With commitment of off-take and revenue from electricity trade, these projects will help draw foreign direct investments into renewable energy sector in the region. Cross-border electricity trading projects and the development of a regional grid will support regional decarbonisation efforts and provide economic opportunities for our regional neighbours that can supply such electricity.”
“Under the Lao PDR-Thailand-Malaysia-Singapore Power Integration Project (LTMS-PIP), Singapore is importing up to 100 megawatts of renewable energy from existing hydropower plants in Lao PDR for a two-year period. The goal of the LTMS-PIP is to study the feasibility of cross-border power trade from Lao PDR to Singapore, through Thailand and Malaysia, using existing interconnections. This is to serve as a pathfinder to the ASEAN Power Grid to promote multi-lateral electricity trading in the region. Since the LTMS-PIP commenced on 23 June and until 28 July 2022, the flow of electricity from Lao PDR to Singapore has been steady and there has been active electricity trading. The electricity traded during this period was around 65,500 megawatt-hour, which met the electricity demand of around 140,000 households over the same period. This shows that it is feasible for electricity to be traded across long distances, and that it is possible for the region to collaborate on cross-border electricity trading which will help to accelerate regional decarbonisation. The LTMS-PIP is the first cross-border power trading project that Singapore is embarking on to import low-carbon electricity. The Energy Market Authority (EMA) will monitor its operations to assess and refine the technical and regulatory frameworks for importing large-scale low-carbon electricity into Singapore. Lao PDR has abundant resources for clean energy. Besides the LTMS-PIP project, the EMA also hopes to access low-carbon electricity through other projects from Lao PDR and other countries in the ongoing Request for Proposal (RFP) to import up to four gigawatts of low-carbon electricity by 2035.”
“From 2018 to 2021, CCCS received an average of about 200 complaints on alleged anti-competitive behaviour annually. From its own surveillance, CCCS has also launched 15 investigations and market studies into potential anti-competitive behaviours.”
“Based on data from the Household Expenditure Survey 2017/2018, resident households spent an average of $220 on electricity, gas and petrol each month, amounting to about 4.5% of their total monthly expenditure. Over the past year, energy commodity prices have increased significantly due to the Russia-Ukraine war, tight supply conditions, as well as strong demand. Energy prices are expected to remain elevated and volatile, particularly as countries in the Northern Hemisphere head into the winter months. As Singapore imports most of our energy supply, our domestic energy prices will be affected by high and volatile global energy prices. The higher prices and possibly lower consumption levels may affect the energy-related expenditure of households. We will have a clearer picture at the next Household Expenditure Survey, which is scheduled to be launched by the end of 2022. The Government will continue to monitor prices and help Singaporeans cope with rising energy costs. For instance, the support measures introduced in Budget 2022 will help eligible households with double the quantum of their quarterly GST Voucher (GSTV) U-Save vouchers in FY2022 to defray the costs of higher electricity bills. As part of the $1.5 billion support package announced in June 2022, all Singaporean households will receive an additional $100 of Household Utilities Credit by September 2022. In addition, the Government has rolled out support measures for self-employed persons whose livelihoods depend on their vehicles, such as a one-off relief of $150 this month to eligible taxi main hirers and private hire car drivers.”
“The role of the Committee Against Profiteering (CAP) is to review and investigate feedback on unjustified increases in the prices of essential products and services using the GST increase as an excuse. The CAP will review all feedback received and if there are grounds to suspect profiteering using the GST increase as an excuse, the CAP will engage the business involved to address the issues. The CAP may make public errant businesses that seek to profiteer on the pretext of the rise in GST. The CAP received and reviewed about 100 feedback submissions between April and July 2022, of which five involved specific allegations of GST misrepresentation. The CAP followed up swiftly, especially for the five cases, working with partner agencies and organisations including the Competition and Consumer Commission of Singapore (CCCS), the Consumers Association of Singapore (CASE) and the People's Association (PA). The businesses committed to be transparent on their pricing and in their communications with consumers. There have so far been no repeat complaints.”
“Following the exploration contract, OMS collaborated with the Keppel-NUS Corporate Laboratory on two expedition trips in 2015 and 2020 to conduct an environmental baseline study of the Clarion-Clipperton Zone (CCZ) in the Pacific Ocean. Through these expeditions, OMS has collected and analysed biological, geological, and oceanographic data, which has been published in research papers and reported to the ISA. OMS's annual reports are reviewed by ISA's Legal and Technical Commission (LTC) and these cover various aspects of the company's expedition trips which are found to be satisfactory and consistent with regulations and guidelines that govern exploration. These findings, together with other environmental studies that are being conducted, contribute to global knowledge on biodiversity and environmental baselines in the CCZ. Under the terms of the licence granted by Singapore under the Deep Seabed Mining Act 2015, a Singapore company must comply with the terms and conditions of the ISA contract, applicable ISA regulations and UNCLOS. If a Singapore company fails to do so, the Minister for Trade and Industry has the power to issue directions to ensure compliance, impose penalties, and even terminate the licence. At present, no company or individual has been found guilty of offences under this Act.”
“The United Nations Convention on the Law of the Sea (UNCLOS) and the Implementation Agreement (IA) for Part XI of UNCLOS set out the legal framework and obligations for deep seabed mining and related activities in the areas of the seabed, ocean floor and subsoil thereof, beyond the limits of national jurisdiction. The International Seabed Authority (ISA), established under UNCLOS and IA, regulates all such activities. Singapore is a member of the ISA Council, which is developing the rules, regulations and procedures (RRPs) for exploitation activities, to ensure that any such activity, if and when permitted, is done without harming the marine environment. We fully support the adoption of robust, clear and comprehensive RRPs by the Council before any exploitation activity is authorised to commence. Singapore is firmly committed to safeguarding the health of the ocean and will ensure that any activities carried out by our companies are consistent with international laws, including the RRPs, adopted by the ISA. Through a notification which took effect on July 2021, the Republic of Nauru requested that the ISA finalise the RRPs within two years, that is, by July 2023, as provided for under UNCLOS and the IA. As a responsible member of the ISA Council, Singapore will participate actively, and contribute to the development and adoption of the RRPs. The company, Ocean Mineral Singapore Pte Ltd (OMS), was granted an exploration licence under the Deep Seabed Mining Act 2015 and it has signed an exploration contract with ISA, with Singapore as the sponsoring state. This contract was awarded after the ISA was satisfied that OMS met its qualification criteria, including having adequate financial and technical capabilities to fulfil its environmental and other obligations.”
“Between January 2020 and May 2022, about 60 hotels participated in WSG's CCP for Hotel Professionals and close to 1,500 workers benefitted from the programme. To supplement the tight domestic labour market, we are also working with key tourism stakeholders to provide additional foreign worker quotas for a time-limited period to support their immediate-term recovery and capture opportunities. We consider a suite of factors when doing so, including companies' commitments to local employment outcomes, and the progress of each company's business and workforce transformation journey. As the hospitality industry emerges from the crisis, we will continue to support companies in their workforce and business transformation efforts to raise productivity. We will encourage the adoption of technology through incentive schemes such as the Business Improvement Fund, and push for job redesign to create quality jobs for locals.”
“In December 2019, the hospitality industry employed 35,000 people1. It was one of the industries hardest hit by the COVID-19 pandemic as travel was restricted. We supported the hospitality industry with various measures like the Tier 1 Jobs Support Scheme and the SGUnited Jobs and Skills Package to cushion the impact to their businesses and retain core capabilities. As of March 2022, the industry employed 23,000 people2, and this number is likely to have grown with the reopening of borders in April 2022, as hospitality companies have ramped up hiring. We hope to see the industry return to normalcy in tandem with tourism recovery. The reopening of borders and revival of leisure and business events have led to encouraging signs of recovery. Hospitality companies are ramping up operations to meet the increasing demand, as seen from the exciting calendar of events in the second half of 2022, such as the Formula 1 Grand Prix. To help the industry promote local hiring, Singapore Tourism Board (STB) had partnered NTUC, NTUC's Employment and Employability Institute (NTUC's e2i), WSG and key trade associations and chambers (TACs) to launch the Tourism Careers Hub (TCH) in January 2022. This Hub facilitates job matching of local candidates with the tourism sector, supports the upskilling of workers to meet evolving demands, and drives business transformation efforts. More than half of the jobseekers who sought career assistance through the TCH were placed into new jobs in the tourism sector, for example, at hotels such as The Fullerton Hotel and Goodwood Park Hotel. Companies and workers can also tap on a range of Career Conversion Programmes (CCP) which support our mid-careerists in undertaking skills conversion to transition into the hospitality industry.”
“As of end-June 2022, there were close to 600 licensed gas service workers (GSW), of which less than 15% were foreigners from various nationalities on Work Permits, S Passes or Employment Passes. The majority of the licensed GSW were between 31 and 70 years of age.”