Experts: "Govt barking up the wrong tree, needs to think outside box on productivity"

[Confuseous]

The government needs to think out of the box and go beyond existing efforts if Singapore is really to climb up the productivity ladder, said panellists at a pre-Budget roundtable organised by The Business Times and KPMG.

This is especially critical given the policy objective of cutting reliance on cheap foreign labour, and is particularly vital for the vast small and medium enterprise (SME) sector, which produces over half of Singapore's gross domestic product and hires seven in 10 workers here.

For the smaller of these SMEs in particular, size - both their own lack of scale and the limited size of the local market - remains a huge obstacle to productivity gains, panellists said.

So there should be greater focus on promoting value creation rather than investment in machinery, helping smaller firms go overseas to escape the constraints of the domestic market, and encouraging consolidation. Existing schemes should also be made more effective if necessary, they said.

The obstacles to productivity improvements remain for reasons not easily solved by current financial incentives alone, said the president of the Association of Small and Medium Enterprises, Chan Chong Beng, who is also the founder of interior furnishings firm Goodrich Global.

 

[Tuayapeh]

Re: Experts: "Govt barking up the wrong tree, needs to think outside box on productiv

like they really give a fuck...these PAP cheebyekiahs plan is to stay in power so as to continue their robbery and plunder eh hiao beh?

NBCCB...sinkies can be so daft....

 

[congo9]

Re: Experts: "Govt barking up the wrong tree, needs to think outside box on productiv

The government needs to think out of the box and go beyond existing efforts if Singapore is really to climb up the productivity ladder, said panellists at a pre-Budget roundtable organised by The Business Times and KPMG.

This is especially critical given the policy objective of cutting reliance on cheap foreign labour, and is particularly vital for the vast small and medium enterprise (SME) sector, which produces over half of Singapore's gross domestic product and hires seven in 10 workers here.

For the smaller of these SMEs in particular, size - both their own lack of scale and the limited size of the local market - remains a huge obstacle to productivity gains, panellists said.

So there should be greater focus on promoting value creation rather than investment in machinery, helping smaller firms go overseas to escape the constraints of the domestic market, and encouraging consolidation. Existing schemes should also be made more effective if necessary, they said.

The obstacles to productivity improvements remain for reasons not easily solved by current financial incentives alone, said the president of the Association of Small and Medium Enterprises, Chan Chong Beng, who is also the founder of interior furnishings firm Goodrich Global.

Maybe govt will want to cut some of the GLCs strangle hold on the economy. Then SME can truly flourish, then we can talk about productivity. There is no economy of scale to talk about, let alone productivity.

 

[batman1]

Re: Experts: "Govt barking up the wrong tree, needs to think outside box on productiv

No way lah,all 77 retarded groupthinked PAP MPs only know how to follow orders to bring singaporeans into bottomless pit.
Productivity ??? How many cho-bo-lans inside Prime Minister Office ???