2023-12-07
On December 2, 2023, Singapore’s Ministry of Trade and Industry’s deputy secretary Keith Tan and Rwandan Environment Minister Jeanne d’Arc Mujawamariya signed a memorandum of understanding (MOU) to collaborate on carbon markets. To ensure a diversified portfolio of carbon credits, Singapore has signed at least a dozen MOUs with countries such as Chile, Colombia and Mongolia. The MOUs pave the way for possible implementation agreements with these countries, although this would depend on each country’s capability to begin trading these credits with Singapore. FOZL Group provides one-stop corporate services to local and overseas companies, currently serving over 1,000 companies in Singapore. FOZL […]
2023-12-04
From Dec 1, 2023, patients who need surgical implants such as high-cost replacement heart valves, hearing devices, intraocular lenses for cataracts, or knee replacement implants can get higher means-tested subsidies, and not be subjected to a dollar cap. These are among the bulk of commonly used implants in public healthcare institutions that will be included in a new Implant Subsidy List, which will kick in on the same day, said Ministry of Health (MOH) officials at a media briefing on Nov 29. They have been assessed by MOH’s Agency for Care Effectiveness (ACE) to be clinically effective and cost-effective. MOH […]
2023-11-29
On November 23, 2023, core consumer prices in Singapore picked up in October after rising at a slower pace for several months, owing to higher inflation for services and retail goods and an increase in electricity and gas costs. Consumers can expect more volatility in overall inflation in the coming months amid swings in certificate of entitlement (COE) premiums and global oil prices, although prices are expected to moderate in 2024. Official data on Nov 23 showed that core inflation, which excludes private transport and accommodation costs to better reflect the expenses of Singapore households, stood at 3.3 per cent […]
2023-11-27
Singapore’s first car assembly plant, “New Hyundai Motor Group Innovation Centre,” officially opened
On November 21, 2023, the newly opened Hyundai Motor Group Innovation Centre Singapore (HMGICS) in Jurong Innovation District – Singapore’s first car assembly plant in four decades – is not just assembling Hyundai Ioniq 5 cars. The facility, which has a planned capacity of 30,000 vehicles per year for local and overseas buyers, is likely to roll out more cars in 2024 as the certificate of entitlement supply in Singapore grows. The seven-storey 86,900 sq m facility boasts a flexible cell-based production system that breaks away from traditional conveyor-belt manufacturing. This modular system allows the plant to assemble several products […]
2023-11-22
On November 15, 2023, Minister for Manpower Tan See Leng announced the launch of the Job Redesign Centre of Excellence by Workforce Singapore (WSG) and the Institute for Human Resource Professionals (IHRP), to help the Republic’s workplaces remain relevant and competitive. Job redesign means restructuring work tasks and responsibilities to optimise processes and allocation of workers. The centre, which can be accessed via IHRP’s website, will serve as a one-stop touchpoint providing industry-relevant expertise and resources for enterprises to transform their business and workforce through job redesign. It will be managed by IHRP, which will reach out to companies through […]
2023-11-20
On November 14, 2023, The Monetary Authority of Singapore (MAS) said it had signed a memorandum of understanding with the IFC and the forum to advance digital inclusion through financial services. Digital inclusion refers to the use of digital technologies to provide equal and affordable access to essential services for underserved individuals and micro, small and medium-sized enterprises (MSMEs) in areas such as finance, health and education. In a separate announcement on Tuesday, MAS, together with the United Nations Development Programme and its other partners, launched an open global initiative to improve MSMEs’ access to financing. The Universal Trusted Credentials […]
2023-11-17
A large-scale manufacturing facility that develops affordable vaccines in Singapore for common diseases, and can easily switch to production of new vaccines for the next pandemic, was officially opened on Thursday (November 9, 2023). The $27 million facility is part of a five-year $80 million investment by Hilleman Laboratories, which also includes a research and development (R&D) laboratory in Biopolis. The new 30,000 sq ft manufacturing facility in Depot Road, called Aces, focuses on early clinical development of vaccines during peacetime. “Hilleman Laboratories will be a crucial piece of the pandemic preparedness and resilience jigsaw,” said Health Minister Ong Ye […]
2023-11-14
Retail enterprises will get more help to go digital under a refreshed retail industry digital plan launched on Thursday (November 9, 2023). It will assist about 23,000 enterprises in the retail sector in protecting themselves against cyber attacks and safeguarding their customers’ personal data. This sort of protection is critical for a firm’s reputation and to fortify it against such attacks, said Minister of State for Trade and Industry Low Yen Ling, who launched the refreshed plan during a visit to furniture retailer Scanteak. The plan was jointly developed by Enterprise Singapore and the Infocomm Media Development Authority (IMDA), in […]
2023-11-08
On October 27, 2023, A road map towards a more equitable and thriving Singapore has been put forth by the fourth-generation (4G) leadership, fleshing out the moves the Republic will make in the coming years to stay cohesive amid a time of change. These include a greater helping hand for groups such as the less well-off, mid-career workers and seniors, through means such as additional financial support and improved infrastructure. And there will be more done to ensure that Singaporeans’ basic needs at every life stage will be met, such as in education, retirement, healthcare and housing. These moves come […]
2023-11-07
On November 2, 2023, Small and medium-sized enterprises (SMEs) here will be able to tap polytechnics for expertise in developing robotics and automation solutions for urban environments, while food manufacturers can get help in seizing opportunities in emerging areas such as alternative proteins and sustainability. Enterprise Singapore (EnterpriseSG) will set up a Centre of Innovation (COI) for robotics and automation solutions in the built environment, while expanding an existing one for food manufacturing, said Trade and Industry Minister Gan Kim Yong. He announced these initiatives at the SME Tech Day 2023 event held at the Sands Expo and Convention Centre […]
2023-11-02
On October 25, 2023, Power from batteries in electric vehicles (EVs) could potentially be used to help the country’s electricity grid meet peak demand, under a pilot programme that will start in November. The vehicle-to-grid (V2G) programme, as it is called, was made possible through a grant awarded by the Energy Market Authority (EMA) and Singapore Institute of Technology (SIT) to a consortium led by transport operator Strides. The initiative, which will involve 15 commercial vans and 10 V2G-enabled EV chargers, will be tried out in Punggol and run for three years. FOZL Group provides one-stop corporate services to local and […]
2023-10-30
On October 23, 2023, as Singapore is still expected to rely on natural gas for more than half of its power generation needs by 2035, further steps have to be taken to ensure that supply remains sufficient, reliable and competitively priced, said the Energy Market Authority (EMA). Speaking at the Singapore International Energy Week held at the Sands Expo and Convention Centre on Monday (October 23, 2023), Minister for Trade and Industry Gan Kim Yong said the Government will be centralising the procurement and supply of gas for the power sector, under a central gas company, by aggregating demand from […]
2023-10-26
