Rapidly aging populations in the developed economies, the continuing troubled economies in the Eurozone and a still-recovering US provide deep-rooted worries about future economic prospects. However, these trends have also fueled the shift of economic power towards Asia. This represents unique opportunities for Singapore to become a great potential as the preferred centre for investments into Asia.
At a recent KPMG pre-Budget 2013 forum, many participants called for more help with managing labour constraints and business costs. We have therefore gathered the views of the local business community with our commentary to what long term strategies and decisive short term measures may be useful in helping businesses innovate and seek new opportunities for the future.
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The forum addressed the following questions:
- What are the main business challenges companies face today?
- Are we seeing the fruits of the Government’s productivity and innovation drive? And if not, what can be done about it?
- What more needs to be done to support the growth of Singapore enterprises?
- How to continue to attract local and overseas investment?
- What can the Government do to help companies meet the social objectives that the government promotes, such as higher birth rates and the creation of an enriching environment for families?
KPMG would like to thank all guests who attended the forum, and in particular the following panellists for taking part in the discussion:
- Selena Ling,Head of Treasury Research and Strategy at OCBC Bank
- Chan Chong Beng,Chairman of Goodrich Global Pte Ltd and President of Singapore’s Association of Small & Medium Enterprises (ASME),
- Goh Ann Nee,Chief Financial Officer , City Developments Ltd
- Jason Masi,Senior Finance Director at GlaxoSmithKline (GSK) Singapore
We would also like to thank Mr Melvin Yong, General Manager (Singapore), CPA Australia for moderating the discussion.