S'pore can be dominant force in established industries

dgma6e47 | 12 March, 2019 06:37

I cannot agree more with Mr Liu Fook Thim that Singapore must restructure traditional industries rather than venture into new areas which we have no expertise in. 바카라

As high costs make us a less inviting option for many overseas firms, it is time to reposition our economy. Small and medium-sized enterprises (SMEs) must quickly step up to fill the shoes of multinational corporations (MNCs) that are offshoring their businesses out of Singapore.

As SMEs have to take a giant step up to fill the void, tax incentives and grants will help businesses strengthen their capabilities, restructure, develop their workers and provide them with the finances to expand overseas.

SMEs lack the financial muscle and economies of scale that MNCs possess. Hence, they face far more stringent credit guidelines from banks to fuel their expansion.

The Economic Development Board and Enterprise Singapore can assist by developing local private-sector businesses to contribute to supply chains.

This can involve introducing schemes that help local businesses tap opportunities for expansion to give them a competitive advantage in the global market. 바카라사이트

In order for local enterprises to create genuine value, they must generate new products and services in established industries.

This will pave the way for such businesses to grow through collaboration with MNCs to meet global demands, and not just the needs of the domestic market.

The authorities must also ensure a level playing field of support for small businesses by offering them the same incentives as MNCs to get up to speed.

While it may sound like a good idea for SMEs to cooperate by leveraging one another's core competencies, the reality is that business rivals will never risk sharing any knowledge that gives their competitors a leg-up.

Establishing more protocols in order to facilitate collaboration may have the unintended effect of restricting the way SMEs operate when collaborating.

While huge foreign companies move out of Singapore, we can make Singapore the preferred destination for foreign firms to shift their higher-value R&D here to develop their ideas, revolutionise growth areas and adopt new technologies. 카지노사이트

Local R&D firms will also benefit from partnering with these foreign counterparts. The transfer of knowledge may help us become a dominant force in some of the established industries we once excelled in. 



daftar akun taruhan bola | 09/04/2019, 11:30

This is a very great post and the way you express your all post details that is too good


daftar judi bola terpercaya | 08/04/2019, 13:48

Thank you for sharing

your blog are superb information

daftar agen bola terbaik | 23/03/2019, 01:41

Many thanks for making the sincere effort to explain this. Thanks for this wonderful article! great post with rich quality content! Very resourceful and informative! Keep posting! Would love to follow up on your upcoming future posts!

So Usefully article

Judi Bola Online | 21/03/2019, 22:34

Very beautifully written and explained. Thanks for posting an article on this topic. and good information. I really enjoyed reading this article which explained everything in very easy manner.

Poker Idnplay Terpercaya

Poker Idnplay Terpercaya | 13/03/2019, 08:44

This is a very great post and the way you express your all post details that is too good

Add comment