Singapore to resume mega infrastructure plans
Schedule to be paced according to demand.
Singapore will push ahead with various mega infrastructure projects, such as Changi T5, Tuas Mega Port, and submarine cable hubs, according to Trade and Industry Minister Chan Chun Sing.
In addition, various regional developments like Punggol Digital District, Jurong Lake District, Sungei Kadut Eco-District, Greater Southern Waterfront are also going ahead.
However, the timeline for these projects might differ from their original schedules as it will be paced based on demand. Chan assured that all of the projects will be done.
Chan addressed risk of more job losses, as companies’ operations grind to a halt amidst the circuit breaker measures. However, the government won’t be rushed into lifting the restrictions.
Companies are advised to adapt and not expect ‘business-as-usual’ after the economy reopens. Some business models have to be changed, but the government is ready to help companies adapt whilst creating 100,000 employment opportunities.
Chan also reaffirmed Singapore’s commitment to free trade. It also plans to maintain its track record of unfettered movement of goods, services and capital. No export restrictions were imposed, nor foreign investments nationalised.
“We kept our production lines open for global supply chains, including critical materials for surgical masks. We worked with companies to increase their production, so that we could meet Singapore’s and the world’s needs, and we facilitated the continued flow of essential goods and people through our ports and airports,” he added.
Chan believes that with such, foreign companies will feel safer investing in Singapore.
Workplace 3.0: Transforming work environments to support innovation and meaningful work
The race to gender equity for Asia’s startups
How Many Apps Does It Take to Change a Workplace?
In an era of zero-sum thinking, business leaders must unlock a mutually beneficial future