Committee of Supply 2023 debate, Day 3: Janet Ang on moving from 'handouts' to sustenance

Without execution, the sectoral strategies laid out in Singapore's Industry Transformation Maps (ITMs) is "daydreaming", said NMP Janet Ang. "So, execute we must," she said in Parliament on Tuesday (Feb 28). She said after emerging from the COVID-19 pandemic, Singapore now has to deal with escalating food and energy prices, and high inflationary pressures. She asked if the Government would consider allowing small- and medium-sized enterprises (SMEs) to negotiate a temporary shortening of payment terms or payment advancement over a limited period. She also wanted to know how the Government could encourage Singapore's financial services ecosystem to support SMEs to invest in their businesses. Ms Ang noted that with Budget 2023, it is clear that the Government is moving away from handouts to invest to build for growth, sustainability and resilience. She wanted to know how the Government will facilitate and encourage Singapore companies to get started on their innovation journey and take it from creation to production to market.