Cryptocurrency NewsTop News

Singapore’s ‘Immediate Task’ Is to Shore Up Tourism, Chan Says




imageStock Markets47 minutes ago (Mar 03, 2020 12:00AM ET)
image

(C) Reuters. Singapore’s ‘Immediate Task’ Is to Shore Up Tourism, Chan Says

(Bloomberg) — Singapore’s “most immediate task” is to bolster the tourism sector amid a global coronavirus outbreak, Trade & Industry Minister Chan Chun Sing said.

The government will support the upgrade of hotels and attractions, a “strong pipeline” of leisure and business events, and step up tourism marketing, Chan said in prepared remarks for delivery Tuesday in parliament.

Other highlights of the speech:

  • Singapore must plan for long-term changes, including re-ordering of supply chains and technological advances, in order to “emerge stronger” from virus effects
  • “The ensuing contest to attract top investments will be intense” as developing countries with land and labor slash costs and developed nations build smart cities to rival Singapore
  • Singapore should upgrade and expand on its 25 free-trade agreements and hopes to sign the Regional Comprehensive Economic Partnership this year; trade negotiations also ongoing with Latin American blocs and Eurasian Economic Union
  • Talks with Australia on digital economy agreement “progressing well”; similar negotiations with Chile and New Zealand have “substantially concluded”
  • Government will “significantly strengthen” support for firms that want to internationalize business, including by extending a double tax deduction scheme for another five years through 2025, and by providing assistance for local graduates to work in Southeast Asia, China, or India
  • Workers in their 40s and 50s to get extra support as the government boosts re-skilling measures and targets annual job placements of 5,500 for locals in that age group by 2025; eligible firms will get a one-time S$10,000 ($7,186) payment to cover as much as 90% of expenses related to such workforce transformation programs

Singapore’s ‘Immediate Task’ Is to Shore Up Tourism, Chan Says

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

image

Our Apps

DOWNLOAD APPApp store

Investing.com

(C) 2007-2020 Fusion Media Limited. All Rights Reserved

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.

Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.

It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Related Articles

Back to top button
Close
Close
Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!