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As companies brace for tougher 2020, targeted help to raise competitiveness will take 'centrestage'

Singapore Budget

As companies brace for tougher 2020, targeted help to raise competitiveness will take 'centrestage'

Uma Devi Published on Fri, Feb 07, 2020 / 7:00 AM GMT+8 / Updated 5 days ago

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SINGAPORE (Feb 7): Thanks to a global upswing, semiconductor manufacturer DenseLight enjoyed 48% growth in revenue last year. Besides the favourable market conditions, the company’s chief executive Rajan Rajgopal is appreciative of the various government grants extended to companies like his over the years.

However, as Feb 18 – the day the national Budget is announced – looms near, Rajgopal says is time for more targeted, industry-specific measures if companies based in Singapore are to maintain their competitiveness and keep growing. “This would be the natural next step for the government,” he tells The Edge Singapore in a recent interview.

Edmund Lee, managing director of business services provider TMF Singapore, observes that many incentives were meant to make Singapore a more attractive base for MNCs to set up shop. However, some of these schemes have been phased out, or will be. In the face of stiffer external competition, some of these schemes should be extended, he says.

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As companies brace for tougher 2020, targeted help to raise competitiveness will take 'centrestage'

Singapore Budget

As companies brace for tougher 2020, targeted help to raise competitiveness will take 'centrestage'

Primary tabs

Error message

As companies brace for tougher 2020, targeted help to raise competitiveness will take 'centrestage'

Singapore Budget

As companies brace for tougher 2020, targeted help to raise competitiveness will take 'centrestage'

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