Singapore Budget 2024

Here’s a summary of the Singapore Budget 2024 focusing on commercial aspects:

  1. Support for Businesses:

    • Continued support for businesses affected by COVID-19, including targeted measures for industries still facing challenges.
    • Extension of existing support schemes such as the Jobs Support Scheme (JSS) and the COVID-19 Recovery Grant (CRG).
  2. Enhancing Competitiveness:

    • Measures to enhance Singapore’s competitiveness as a business hub, including investments in technology and innovation.
    • Support for businesses to adapt to digitalization and sustainability trends.
  3. Taxation and Incentives:

    • Review of tax policies and incentives to ensure they remain competitive and attractive for businesses.
    • Possible adjustments to tax rates or incentives to stimulate growth in key sectors.
  4. Infrastructure and Connectivity:

    • Investments in infrastructure and connectivity to improve the business environment and support economic growth.
    • Focus on enhancing logistics and transportation networks to support businesses.
  5. Skills Development:

    • Continued emphasis on skills development and training to ensure a skilled workforce for the future.
    • Support for businesses to upskill their employees and adapt to changing market demands.
  6. Sustainability and Green Initiatives:

    • Emphasis on sustainability and green initiatives, with incentives for businesses to adopt environmentally friendly practices.
    • Support for businesses to reduce carbon footprint and contribute to Singapore’s sustainability goals.
  7. Trade and Investment:

    • Continued efforts to promote trade and investment, including support for businesses looking to expand overseas.
    • Measures to strengthen Singapore’s position as a regional hub for trade and investment.

Overall, the Singapore Budget 2024 aims to provide support and incentives for businesses to recover from the impact of COVID-19, enhance competitiveness, and drive sustainable growth in key sectors.

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