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Singapore Stimulus Programme, August 2020

Singapore Stimulus Programme, August 2020

Singapore’s Deputy Prime Minister Heng Swee Keat, in August 2020, announced that the government is releasing additional support measures
amounting to S$8 Billion (US$5.8 Billion) to support its COVID-19 stricken economy.

This came after Singapore has reported an unprecedented record 42.9%
decrease on an annualised basis in its economy in the second quarter of this year. With this additional package, Singapore aims to address the technical recession that has befallen it. This support shall primarily be distributed in the forms of extended wage subsidies and cash outs to affected employees, domestic tourism vouchers to Singaporeans, and financial grants to start-ups covering capital and mentorship programs.

In support of the government’s efforts to revive its “open and trade-dependent economy” and its drive to push digitalisation of every industry as part of embracing the new normal, SYMPHONY has launched specific packages the Singapore SME community. The 5 x SME packages are tailored to drive digital transformation in the SME’s logistics and supply chain practice.

Talk to us and know more how we can work together to optimise logistics for your company in the new normal.

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