MTI Budget 2016: Support for Businesses
Minister for Finance, Mr Heng Swee Keat, delivered the Budget Statement for the Financial Year (FY 2016) on 24 March 2016. During the Committee of Supply (COS) Debate, the Ministry of Trade and Industry also announced how we are supporting businesses during this challenging time and transforming the economy to position ourselves for the future.
Budget 2016 seeks to transform the economy through innovation and enterprise, and build a caring and resilient society
for all Singaporeans. This will be a collaborative effort by the people, businesses, the community and the government. For businesses, we aim to address their near-term challenges, while addressing mid-to long-term needs. We will support businesses to:
1) Seize opportunities
by capitalising on global economic trends that present exciting new opportunities so that we can thrive in a slower growth environment.
2) Create value
by moving into deeper value creation anchored on entrepreneurship and innovation to harness future opportunities and compete globally.
3) Boost productivity
by pushing ahead with productivity and transformation through restructuring and internationalisation, and upskilling our workers to prepare for jobs of the future.
MTI has developed an infographic to provide an overview of the key thrusts and initiatives to support our businesses. For more details, please visit the MTI website
. You can also access Budget-related materials on the MOF/Budget website. We also welcome your feedback which can be sent to firstname.lastname@example.org