$100m Budget Put in Place to Improve Quality & Standards in Singapore

02 Sep $100m Budget Put in Place to Improve Quality & Standards in Singapore

Singapore’s government has put in place a budget of $100m to improve the quality and standards of the country. SPRING Singapore, Singapore Standards Council, and Singapore Accreditation Council recently held a gala celebrating 50 years of nation building. Deputy Prime Minister Tharman Shanmugaratnam spoke of the improvements that need to be made and announced that the $100m budget was put into place. Mr. Thurman is also the coordinating Minister for Social and Economic Policies.

The budgeted money will be used for small and medium sized businesses to be put to use in the standards adoptions projects. Importance will be placed on gaining access to the global market for these Singapore businesses firstly, and the second is to motivate innovation.

Over the past 50 years, Singapore has come a long way in quality when it comes to an economic standpoint. Mr. Tharman praised the country for this in his speech at the gala. He also touched on the importance of Singapore making a name for itself and striving to gain relevance in the world since gaining independence in 1965. The country has far exceeded expectations in this!

In 2012, Singapore launched a water efficiency management system. This was the first system of this type ever developed in the world. As a result, water bills have been lowered and the water supply has been protected.

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Spring Singapore is the statutory board responsible for helping these local businesses when it comes to growth and helping to build trust in the products and companies throughout the community. This board will continue to work with the small and medium business owners to help them to continue upward in their growth.

The standards for Singapore do not stop here just because the budget has been set in place. These standards will continue to be set and evaluated upon growth. Changes will be made as necessary along the way.

Mr. Tharman also supports free trade agreements between Singapore and others. The goal is to reduce technical barriers in the free trade environment. Great strides have already been made and goals in place will see that these strides are continued to go upward.

The countries ecosystem remains in a critical state for the future. The standards that are being put into place, will help evolve policies and procedures that will ensure that well-being of the ecosystem to the fullest possible extent.

In effect of these placed standards, quality of life on the island will improve greatly, it is believed. Mr. Tharman is promoting support of not only board members, but the community as well. A joint effort being made, will ensure that the standards are met with great satisfaction for all. The positive reinforcement that he is providing, helps to motivate all of those concerned. In the very near future, Singapore should see even more astounding improvements made than have been over the past 50 years. Having the effort of Mr. Tharman on board has proven to be of a great asset for the country and its people.

About the Author:

Morris Edwards is a content writer at companyregistrationinsingapore.com.sg – he writes different topics like “Businesses to enjoy 250% tax deduction on wages if employees volunteer at IPCs“, “Monetary Authority of Singapore Launches Anti-Money Laundering Unit” and all topics related to Economy and Business in Singapore.

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