Singapore GDP Growth Rate Exceeds 2022 Forecasts, Records 3.8% Growth The services sector helped to boost the Singapore GDP growth rate to 3.8% in 2022, beating forecasts. However, growth in the fourth quarter was slower than expected. Growth in the manufacturing sector was not as optimistic as analysts expected. Manufacturing experienced a growth of only…
Singapore’s Lower & Middle-Income Residents to Get GST and S&CC Rebates Early 2023 Lower and middle-income household residents in Singapore are set to receive their GST vouchers and S&CC in early January this year. This will apply to about 950,000 residents living in HDB flats. The GST vouchers and U-Save and Service and Conservancy Charges…
Spearheading Transformation with Strategic EU-Singapore Digital Partnership New pact spurs collaborative expansion via strategic EU-Singapore Digital Partnership The digital realm will be experiencing transformative collaboration with a new pact between the European Union and Singapore. The strategic EU-Singapore Digital Partnership aims to futureproof both parties’ economies, digital sectors, and technological frameworks. This will further cement…
Higher S Pass or Work Permit Quotas for Firms That Drive Singapore’s Growth Under the Manpower for Strategic Economic Priorities (M-SEP) scheme, firms that drive Singapore’s growth can apply for more work permits. This includes the S Pass work permit. If your company helps advance Singapore’s key economic priorities, you will be granted temporary allowance…
Singapore Economy Grows 4.4% In the Third Quarter The Singapore economy grew 4.4% in the third quarter of this year. The growth is supported by the strength of the services and construction sectors. However, in the third quarter, the economy only expanded 1.5% on a quarter-to-quarter basis. Part of the growth in the third quarter…
Employees Will Be Encouraged to Upskill When More SkillsFuture Funding Is Available Employees in Singapore will be encouraged to upskill themselves when more SkillsFuture funding is available. Experts believe that tax reliefs and subsidised salaries are the way to incentivise employers. The benefit works both ways. With more employees picking up courses that will be…
Parliament In Talks About How Singaporean Workers Will Benefit from New Singapore Work Pass Singapore is planning to introduce the new work pass next year. The work pass is aimed at some of the world’s top foreign talent. The question on the table is how best to track the progress of these pass holders. How…
Indonesia Ratifies Flight Information Region Agreement and Singapore MFA Welcomes This News Singapore MFA (Ministry of Foreign Affairs) is pleased with Indonesia’s ratification of its Realignment of Boundary Agreement. The agreement takes place between the Jakarta Flight Information Region (FIR) and Singapore FIR. The agreement was signed between Singapore and Indonesia in January. Under the…
GPs and Patients Calling for Drug Subsidy Scheme Expansion to Make Healthier SG Initiative More Appealing More patients in Singapore might be encouraged to sign up for the Healthier SG initiative if the cost of more drugs are subsidised. More options on the list of available subsidised drugs would also help. Some doctors in Singapore…
To Promote Local Currency Use in Bilateral Transactions, Indonesia and Singapore Will Explore Cross-border Qr Code Payment Connectivity The Monetary Authority of Singapore (MAS) announces that work on cross-border QR code payment linkage between Singapore and Indonesia will commence. The aim is to enhance payment connectivity between the two countries. The cross-border QR payment linkage…
