BUDGET 2025: Manufacturing group pledges support for Singapore Budget initiatives

The group is ready to help stakeholders translate measures into actions.

The Singapore Manufacturing Federation pledges to work closely with stakeholders to translate Budget measures into actionable outcomes, ensuring Singapore remains a beacon of advanced manufacturing excellence in an era of geopolitical and climatic uncertainty.

The group said Budget 2025 lays a strong foundation for Singapore’s long-term competitiveness by anchoring high-value investments in key sectors such as semiconductors, biopharmaceuticals, and advanced materials. These investments position Singapore as a global leader in innovation-driven manufacturing while creating new opportunities for manufacturers to expand their capabilities and tap into international markets.

The group specifically commended the Budget’s short-term initiatives like the 50% Corporate Income Tax Rebate and the enhanced co-funding under the Progressive Wage Credit Scheme in 2025 and 2026.

The group also applauded the Tte $3 billion top-up to the National Productivity Fund, along with the launch of a national semiconductor R&D facility, saying that it underscores the government’s commitment to building a robust innovation ecosystem.

“Budget 2025 demonstrates a comprehensive commitment to bolstering Singapore’s manufacturing sector by addressing immediate cost pressures while also investing in the long-term capabilities of the industry. By balancing short-term relief with strategic medium- and long-term investments in innovation, sustainability, digital transformation, and workforce development, this budget equips manufacturers with the tools needed to thrive in an increasingly competitive global market,” Christanto Suryadarma, Chairman
of SMF’s Electrical, Electronics & Allied Industries Industry Group said.