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(Source: Arcstone)

(Source: Arcstone)

How Should Singapore Companies Utilise Grants In Budget 2022 To Digitalise Their Operations?

Companies who do not harness data will find themselves in a vulnerable position and unable to strategise their next steps, or worse yet, be cut out of the supply chain.

Comments by Willson Deng, CEO of Arcstone

Recently, Chan Chun Sing, Trade and Industry Minister shared how global headwinds such as rising protectionism, geopolitical tensions and supply chain disruptions have changed the world “irrevocably”. While Singapore has seen some progress and provided room for some optimism in its recovery, with its 2022 GDP forecast set at 3-5 percent, the geopolitical risks emerging from the Ukraine crisis proves to be cause for concern.

A major industry that stimulated growth in Singapore’s GDP comes from manufacturing, with the sector contributing 23 percent of the country’s GDP in 2021. Even then, the master plan in The Singapore Economy 2030 vision highlights the government’s desire to grow manufacturing value-add by 50 percent. 

How Can Local Firms Guide Through Headwinds Of Geopolitical Tensions And Rising Protectionism To Achieve Goals Highlighted In The Singapore Economy 2030 Vision? >>


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