Singapore’s Prime Minister and Minister for Finance, Lawrence Wong, announced the Singapore Budget 2025 on 18 February, focusing on enhancing the country’s competitiveness amidst global uncertainties. Key initiatives include a 50% corporate tax rebate for the Year of Assessment 2025 and a S$3b top-up to the National Productivity Fund, aimed at reducing operational costs for businesses.
The Budget introduces several measures to support technological innovation and enterprise growth. A new Global Founder Programme will attract international entrepreneurs, whilst a S$1b Private Credit Fund will provide financing options for high-growth local enterprises. Additionally, tax incentives are set to rejuvenate Singapore’s stock market, encouraging more corporate listings on the Singapore Exchange.
Significant investments in research and development (R&D) and infrastructure are also highlighted. Over S$10b will be allocated to R&D and infrastructure projects, including a S$5b boost to the Future Energy Fund to support clean energy initiatives. The Budget also outlines plans for a new Enterprise Compute Initiative to facilitate AI adoption among businesses.
Workforce transformation is another focus, with enhancements to the SkillsFuture Workforce Development Grant and additional support for hiring seniors and former offenders. These initiatives aim to help businesses manage labour costs whilst expanding their workforce.
Overall, the Singapore Budget 2025 sets a strategic direction for the nation, addressing immediate business challenges and laying the groundwork for a resilient future.
“`
This news story was carefully selected and published by a human editor, though the content itself was AI-generated. If you spot an error, please report it here.
