Singapore Announces Financial Aid For Businesses

(RTTNews) - Thursday, the International Enterprise Singapore said it is setting aside a total budget of S$123 million to improve the capability of employees and to boost market access programmes for companies. The package is expected to benefit close to 10,000 companies over two years.

The trade promotion agency also announced S$4.2 billion worth of loans for companies through financing schemes. It is projected to generate S$14.4 billion of trade and S$1.6 billion of overseas investments. 2,500 companies would be benefiting over this one-year.

Chong Lit Cheong, Chief Executive Officer of IE Singapore said, “With trade being 3.5 times that of GDP and exports 1.5 times, it is crucial for companies to realize the importance of continued engagement in trade and internationalization to help sustain their business in the long term.”

He urged companies to tap on the programmes, and assured complete support from the agency’s side.

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