The New Paper
TNP ILLUSTRATION: CHNG CHOON HIONG
The main points in Singapore s recovery plan from the Covid-19 crisis
1 BOOSTING COVID-19 DEFENCES
An $11 billion Covid-19 Resilience Package will focus on immediate and ongoing recovery efforts to tackle the pandemic.
Of this sum, $4.8 billion goes towards public health and safe reopening measures, including testing, clinical management and contact tracing, and vaccination for everyone living in Singapore.
Another $700 million goes to extending the Jobs Support Scheme to help firms retain workers, but support will gradually taper off. The hardest-hit sectors, such as aviation and tourism that now get 50 per cent wage support, will see this lowered to 30 per cent for April to June, and 10 per cent for July to September. Sectors like food services and retail, currently getting 30 per cent support, will see this reduced to 10 per cent for April to June.
Singapore puts budget focus on transformation, innovation
After tilting last year s budget towards emergency support in light of the global pandemic, Singapore s government will spend SG$24 billion ($18.1 billion) over the next three years to help local businesses innovate and build capabilities needed to take them through the next phase of transformation.
February 16, 2021 18:17 GMT (10:17 PST) | Topic: Innovation
Singapore is setting aside SG$24 billion ($18.1 billion) over the next three years to help local businesses innovate and build capabilities needed to take them through the next phase of transformation. The financial boost will go towards various initiatives such as the Emerging Technology Programme, which will see the government co-fund the cost of trials and adoption of emerging technologies including 5G, artificial intelligence (AI) and cybersecurity.
The Straits Times
The funds will go towards building a more vibrant business sector and innovation ecosystem.ST PHOTO: LIM YAOHUI
https://str.sg/JHGP
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