Singapore’s 2025 Budget, unveiled today, has been met with positive reactions from tech companies, highlighting its focus on strengthening economic competitiveness and workforce skills. Key initiatives include the Enterprise Compute Initiative and enhancements to the National Productivity Fund, aimed at supporting small and medium enterprises (SMEs) in their digital transformation journey.
Koren Wines, Managing Director of Xero Asia, emphasised the importance of these initiatives for SMEs facing economic pressures. “Whilst the application of AI and unified data technologies can help SMEs unlock new levels of productivity, many businesses lack the technical knowledge and skills to fully harness these tools,” Wines stated. The Enterprise Compute Initiative offers consultancy services to guide businesses in integrating AI tools effectively, ensuring technology investments are maximised.
Jornt Moerland, Senior Vice President for Asia Pacific at Mendix, noted the budget’s potential to lower barriers for AI adoption. “The injection of 150 million dollars into the Enterprise Compute Initiative will deeply benefit the enterprise ecosystem by lowering the barriers to entry for AI tools,” Moerland said. This funding aims to help local enterprises integrate AI-assisted development into their processes, fostering an adaptable tech stack.
Dan Bognar, Vice President and Managing Director for JAPAC at HubSpot, highlighted the budget’s timing. “The Budget’s enhanced support for SME digitalisation arrives at a critical moment when businesses must accelerate their digital transformation,” Bognar remarked. He praised the combination of financial support and expert guidance, which addresses the need for practical AI adoption amongst Singapore businesses.
The 2025 Budget’s comprehensive approach to digitalisation is expected to position Singapore’s SMEs to compete effectively in the global digital economy, driving sustainable growth through technology adoption.
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