Committee of Supply 2023 debate, Day 3: He Ting Ru on building a strong biotech industry and support for small businesses

Singapore has to be self-reliant, with resources to combat and resist the spread of the next wave of infectious diseases, and it is important to have a strong biotech and biochemical industry of its own, said MP He Ting Ru in Parliament on Tuesday (Feb 28). On the issue of potential manpower and talent shortages, particularly at senior C-suite levels, she asked the Ministry of Trade and Industry for an update on the success of schemes to equip Singaporeans with the right skillsets to found, lead and expand companies in the biomedical and biotech fields. Ms He also called for the Government to introduce “a variety of nudges and incentives” to encourage small firms to more quickly integrate sustainability, in particular environmental sustainability, into their businesses. She asked what the Government has done to ensure that access to funding and support to navigate and successfully apply for green financing schemes are provided. In her speech, she also touched on the need for an Export-Import Bank in Singapore.