and strengthen safety nets for Singaporeans in the long term amid the COVID-19 pandemic.
“All these present challenges and opportunities for Singapore’s position as a hub for regional headquarters, high-technology manufacturing activities, and modern services,” said Mr Chan. For companies in sectors that are doing well, like biomedical sciences and electronics, the Ministry of Trade and Industry will help them invest and expand, he said, and this will generate business for other companies and create “good jobs” for Singaporeans.
And if the business has to close or lay off its employees, MTI will work with the Ministry of Manpower, unions and employers to help workers develop new skills and find new jobs, he said.MTI will continue to improve the business environment as well, Mr Chan said, and ensure that an open exchange of trade is maintained.
And to encourage traders and logistics players to use Singapore as a hub, MTI will develop multi-modal transport solutions, Mr Chan said.