New inter-ministerial committee to make Singapore's business rules more friendly
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A new inter-ministerial committee is looking at how to make Singapore's business regulations more business-friendly, particularly in reducing costs for small and medium-sized enterprises (SMEs). The inter-ministerial committee on Pro-Enterprise Rules ReviewNew inter-ministerial committee to make Singapore's business rules more friendly
A new inter-ministerial committee is looking at how to make Singapore's business regulations more business-friendly, particularly in reducing costs for small and medium-sized enterprises (SMEs). The inter-ministerial committee on Pro-Enterprise Rules Review, set up in April, is chaired by Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong. The other members are Transport Minister Chee Hong Tat, Home Affairs and Law Minister K Shanmugam, National Development Minister Desmond Lee, Manpower Minister Tan See Leng, and Senior Minister of State for Trade and Industry Low Yen Ling. The committee will look into how to lower costs for businesses — particularly SMEs — when they transact with the government, Chee told reporters on Friday (May 24). This is especially because SMEs have cited business costs as a major challenge, he added. «The purpose is to engage different groups of businesses — including our trade associations — to understand some of the feedback, pain points and concerns that they face regarding government rules, regulations and processes,» he said. Read more