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SINGAPORE: The government has announced more initiatives to fuel growth in the energy sector in Singapore.
They include a S$20 million Solar Capability Scheme to encourage businesses to diversify their energy sources.
Singapore can now do more to grow the clean energy sector which will help to mitigate the risks of high oil prices and to ensure energy security.
The new Solar Capability Scheme will help to spur innovative use and integration of solar panels for new buildings.
Minister of State for Trade and Industry, S Iswaran, said: “The fund will go towards offsetting part of the installation cost of solar panels for new buildings which attain a certain level of Green Mark standard. EDB will be releasing more details of this scheme soon."
Mr Iswaran will also chair a new international advisory panel on energy.
The panel, comprising experts on the topic, will meet in November, as part of Singapore's first International Energy Week.
The event will also feature a Singapore Energy Conference where policymakers, academics and industry players can share ideas and spearhead new initiatives.
Apart from energy concerns, MPs continued to call for more measures to give businesses a leg up, in view of rising costs.
MP for East Coast GRC, Jessica Tan said: “Just a week ago, one of the industrial park manufacturers shared with me that he had a customer cancel an order with his company - the reason given was that Singapore products were getting too expensive due to our high costs, and the weakening US dollar."
Another questioned the role of JTC - a government agency tasked to supply industrial land at competitive rates.
MP for Ang Mo Kio GRC, Inderjit Singh, said: "First Ascendas was formed and now the perception is that JTC is ploughing its industrial space into Mapletree. REITS will require market driven prices.
“So the question is, has the government shifted from the policy of providing affordable industry and commercial space?"
Trade and Industry Minister Lim Hng Kiang, replied: "For the flatted factory space, JTC's market share is around 20 per cent, so we take our cue from the market. And it is this sector that we are divesting, because we believe that industrial space in Singapore is fairly competitive market.
“So JTC need not stay in this field, JTC will concentrate on land. For the pricing of JTC's industrial space, factory space, this is set by the market. But for the pricing of land, we benchmarked ourselves against our competitive location and we are careful not to price ourselves out of the market.”
Mr Lim added that R&D and innovation will take Singapore further up the value chain.
And despite the tough global conditions, the outlook this year is for a slower but still healthy growth at between four and six per cent. -CNA/vm
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