Speaking in Parliament on Nov 11, Minister of State for Trade and Industry Alvin Tan said Singapore will keep updating its toolkit of incentives to attract investments and also create good jobs for its citizens.
World-class infrastructure, a quality workforce, a well-connected financial system and political stability hold Singapore in good stead with global investors, but the Republic cannot take for granted that multinational corporations (MNCs) will continue to invest here, he said.
While geopolitical and trade tensions have led to increased investment flows into Singapore, they have also fractured the rules-based global trading system, making future inflows uncertain.
"We must continuously be agile-minded and agile-footed, amend and change, be flexible with our suite of tools that are available to us to attract these investments," Mr Tan said in a round-up speech after moving the Bill to implement several tax incentive enhancements that were announced in Budget 2024.
Among other things, the Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill introduces an additional concessionary tax rate tier of 15 per cent for the Development and Expansion Incentive (DEI) scheme.
The Bill was passed in a unanimous vote.
This story is from the November 12, 2024 edition of The Straits Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the November 12, 2024 edition of The Straits Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Star producer of NewJeans quits after legal spat with BTS agency
The South Korean super-producer behind the chart-topping girl group NewJeans resigned from her label on Nov 20, following a protracted legal battle with Hybe that has rocked the country's K-pop industry.
One Direction stars attend Liam Payne's funeral in UK
Family and friends of One Direction star Liam Payne, who died in October after falling from a Buenos Aires hotel room, gathered for his funeral in Britain on Nov 20.
Composer A.R. Rahman and wife separate after 29 years of marriage
Oscar-winning composer A.R. Rahman and his wife, Saira, have announced their decision to part ways after nearly 30 years of marriage.
Audemars Piguet joins hands with Kaws for groovy new drop
Audemars Piguet has teamed up with contemporary American artist Brian Donnelly - better known by his pseudonym Kaws - to create the Royal Oak Concept Tourbillon Companion, a 43mm titanium horological knockout which groovily fuses high watchmaking and pop art.
LOCAL DESIGNERS GET WICKED
Singapore fashion designers have created clothes and accessories in a Wicked collaboration between Design Orchard and NBCUniversal
Captain America excited to flaunt new powers
No serum? No problem. New Captain America Anthony Mackie goes on a different flight path in upcoming movie
SBA RESHUFFLE NETS KIM
S. Korea's ex-Asiad champ will become Singapore women's singles head coach
Yeo targets top-l O spot after maiden win over Sindhu
As far as giants go, they do not come taller in the badminton women's singles circuit than India's 1.79m P. V. Sindhu, who has a 2019 world title and an Olympic silver (Rio 2016) and bronze (Tokyo 2020) to match her stature.
Hearing-impaired Audelle, 10, is rising chess star
It was only when Audelle Sim was six years old that her parents found out that she has a hearing impairment.
THE BEST OF CHESS AND MORE
S,pore world c'ship's side events include fan zones with grandmasters and exhibitions
