How Singapore is Helping Businesses Accelerate Digital Transformation and Expand Overseas
How Singapore is Helping Businesses Accelerate Digital Transformation and Expand Overseas March 9, 2021 Posted by ASEAN Briefing Written by Ayman Falak Medina Reading Time: 4 minutes
Singapore has extended several measures to assist businesses in accelerating their digital transformation.
The government recognizes that the success of new business models will come down to how companies leverage digital technologies for growth.
The list of qualifying activities for businesses to receive tax deductions for overseas expansion has been expanded.
Singapore’s government issued several measures to accelerate the digital transformation and overseas expansion of local businesses.
The government plans to hire more than 200,000 locals and provide up to 35,000 traineeship and training opportunities
The Singapore government announced its Budget 2021 aimed at helping families, workers and businesses weather the Covid-19 pandemic.
There was a big focus in the budget on digital transformation and upskilling workers to prepare for the shift to digital, which has been accelerated by the pandemic.
“As a small, open economy, Singapore’s economic recovery is contingent on how the global situation plays out. Not everything is within our control. We need to adapt nimbly to the wide range of possible outcomes,” said Singapore’s deputy prime minister and finance minister Heng Swee Keat.