Commentary: What would it take for Singapore to grow the next … – CNA
SINGAPORE: Budget 2023 announced initiatives to encourage innovation-led growth amid gloomy economic conditions and stiffer global competition. As Deputy Prime Minister Lawrence Wong said, Singapore will have to adapt quickly to changes, to survive and prosper in a troubled world.
The Budget promises a S$4 billion top-up to the National Productivity Fund, and tax deductions for businesses that conduct research and development through the new Enterprise Innovation Scheme. The message is clear: Widen the pool of local companies and transform them into international champions that can form another growth engine for Singapore.
But how will Singapore build trail-blazing companies in this digital age? What will it take for homegrown companies to re-invent industries in the way that enterprises like Sound Blaster’s maker Creative Technology have done in the past?
A CONSTANT PROCESS OF INNOVATION
Today, we are seeing new digital business models enabled by emerging technologies such as…
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source: https://news.oneseocompany.com/2023/02/21/commentary-what-would-it-take-for-singapore-to-grow-the-next-cna_2023022140976.html
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