Budget 2020 Debate: Ong Teng Koon on emulating the 'Mittelstand' model

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Budget 2020 Debate: Ong Teng Koon on emulating the 'Mittelstand' model

(Updated: )

Singapore should consider building an ecosystem akin to Germany’s “Mittelstand” model of small and medium enterprises. Speaking in Parliament on Thursday (Feb 27), MP Ong Teng Koon argued for a core of locally anchored, stakeholder-conscious businesses that can help Singapore’s economy in both good and bad times. He also urged the Government to relook “place and train” Professional Conversion Programmes. He said such programmes create a catch-22 for mature PMETs, who need training to get new jobs but need to get those jobs before they can receive any training.

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