Less red tape? Singapore to reduce regulatory burden for companies | National Day Rally 2024
To ensure a business-friendly environment, Singapore needs to keep the regulatory burden to a minimum, says Prime Minister Lawrence Wong in his first National Day Rally. “Every few years or so, we have to do a thorough and proactive review of our rules and processes, and prune them back where possible,” he said in his speech on Aug 18. He cited an example of how difficult it was to get permits and registrations done for a drone show. "Previously, a drone show using 1,000 drones would incur more than S$25,000 in compliance costs. Now, it will cost just S$500," PM Wong said.
To ensure a business-friendly environment, Singapore needs to keep the regulatory burden to a minimum, says Prime Minister Lawrence Wong in his first National Day Rally. “Every few years or so, we have to do a thorough and proactive review of our rules and processes, and prune them back where possible,” he said in his speech on Aug 18. He cited an example of how difficult it was to get permits and registrations done for a drone show. "Previously, a drone show using 1,000 drones would incur more than S$25,000 in compliance costs. Now, it will cost just S$500," PM Wong said.
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