Jo Teo: "inevitable that we are going to be a relatively high cost environment."

[Confuseous]

The government is keeping an eye on the rising business costs that firms in Singapore are seeing.

This was the message delivered by Josephine Teo, Minister of State for Finance and Transport, to small- and medium-sized enterprises (SMEs) present at the Enterprise 50 (E50) awards luncheon held Thursday.

However, firms cannot expect Singapore to go back to the low-cost business environment that many have become used to.

Said Mrs Teo: "The operating environment in terms of cost ...is an area that we have to pay careful attention to primarily because cost can be a barrier to starting up, and cost can also be a barrier to start-ups growing to a certain scale and size. And so this cost is not a trivial matter. We have to examine it carefully, and try to bring it down as much as possible. This part we know."

"Except that when we are a developed economy, when you have human capital of a certain quality, when you are also constrained in terms of land size, it is quite inevitable that we are going to be a relatively high cost environment."

 

[congo9]

Land cost is the killer. They are the ones making big money.

 

[winnipegjets]

In other developed countries, the high cost of doing business leads to high incomes for citizens. In sinkapore, locals are put out and foreigners willing to get pay 30 percent less are taken in to replace the locals. Business owners reap higher profits while passing on the cost to taxpayers.

 

[streetsmart73]

Land cost is the killer. They are the ones making big money.

hi there


1. bro, bingo!
2. it does not take an idiot to know that mah.
3. and yet dafter sheep choose to avoid & ignore that.
4. scholars, multi-million salary!
5. just hopeless

 

[mollusk]

they should extend their invitation to all the buddies in SBF....