Singapore will keep supporting small and medium-sized enterprises (SMEs) and help them expand here and overseas, said Transport Minister Chee Hong Tat on July 5.
He told the annual Entrepreneur of the Year Awards ceremony: “While we attract and anchor multinational companies to invest in Singapore to provide business opportunities for our SMEs and create good jobs for our people, we will continue to groom local start-ups and companies.
“(We will also) help our companies to scale up their operations and expand their presence in Singapore and overseas.”
Mr Chee, who is also Second Minister for Finance, said multinationals can benefit from a strong base of SME suppliers and partners, while SMEs can also grow by leveraging the knowledge and business opportunities from the larger firms.
“Staying open and connected with the world is a better approach, compared to closing our doors... blocking the flow of international trade, investments and talent,” noted Mr Chee, who was the guest of honour at the event organised by the Association of Small and Medium Enterprises (Asme) and the Rotary Club of Singapore, and held at The Ritz-Carlton, Millenia Singapore.
An inter-ministerial committee was set up in May to review regulations, with the aim of cutting red tape and creating a more business-friendly environment.
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