28,000 Singapore companies assisted by scheme to internationalise

SINGAPORE — To date, IE Singapore has assisted 28,000 companies here, up from 26,000 companies in 2013, said Minister of State (Trade and Industry) Teo Ser Luck in Parliament today (Feb 13).

Mr Teo said he hopes this upward trend will help Singapore reach its goal of having 1,000 Singapore enterprises having revenue above S$100 million by 2020, so as to groom a vibrant corporate ecosystem here and grow the Republic’s external wing.

Responding to Non-Constituency Member of Parliament Gerald Giam’s question on the schemes in place to help companies achieve this goal, Mr Teo also cited the Capability Development Grant, a financial assistance programme that supports SMEs in areas such as technology adoption and improving service standards, and the Market Readiness Assistance Grant, a broad-based programme designed for companies keen to venture abroad for the first time.