The Singapore infocomm Technology Federation (SiTF) has said that it is happy with the S$20.5 billion "Resilience Package" rolled out by the government on January 22, particularly since it takes into consideration both the short- and long-term views of the country's economic welfare. The federation said that it is glad with the budget package, which has taken into consideration both the short and long-term views of the country’s economic welfare.
“It is heartening that the Singapore government took into account the SiTF’s recommendations to ease high business costs,” said Tan Yen Yen, chairman of SiTF.
“We welcome the tax reductions, rental rebates and job credits that allow Singapore to be competitive as an ICT hub and remain attractive for foreign companies.”
Preparing for better times
The measures to promote innovation will provide companies, particularly SMEs, the opportunity to develop new areas of expertise in preparation of better times ahead, she said.
The SiTF thinks that the government incentives to encourage sustainable development will make green technology affordable and provide impetus to companies that want to adopt sustainable technology. “This will accelerate the adoption of green technologies in Singapore and enable companies to explore alternative markets for growth,” said Ms Tan.
“To further bolster the economy, we urge the government to invest in ICT infrastructure and projects, and support companies to adopt infocomm technologies to reduce costs and to increase efficiency,” she added.
“We look forward to more details on some of the initiatives mentioned, such as Singapore Media Fusion Fund, and the enhanced capability development and internationalisation schemes,” said the SiTF chairman.
