NMP Neil Parekh Advocates Tax Incentives and Enterprise Innovation Scheme for Business Growth

In his maiden parliamentary speech, Nominated Member of Parliament and SBF Council Member Neil Parekh expressed support for the Income Tax (Amendment) Bill. Mr Parekh proposed taxing foreign asset gains to stimulate business expansion in Singapore. He noted that the Enterprise Innovation Scheme is poised to be a game changer for Singapore, as the tax deductions are very helpful especially for SMEs.

Mr Parekh delivered a second parliamentary speech on the Free Trade Zones (Amendment) Bill. Watch his second speech here.

Saudi Arabia, Singapore Announce Re-Launch of Joint Business Council

During the Saudi-Singapore Business Forum held in Singapore on 26 September, the Federation of Saudi Chambers and SBF officially re-launched the Saudi-Singapore Business Council. The Council's goals include promoting economic cooperation, facilitating cross-border business communication, and organising events like exhibitions, conferences, as well as trade delegations to strengthen economic ties and collaboration between the two nations. The forum was graced by Singapore Minister for Manpower and Second Minister for Trade and Industry Dr Tan See Leng and Saudi Arabia Minister of Commerce & Chairman of the National Competitiveness Centre H.E. Dr Majid Al Qassabi.

Arts and culture open up business opportunities in Vietnam

Vietnam is one of the top three choices for overseas expansion by Singapore companies. To get a foot into the market, Singapore entrepreneurs can sign up for Spotlight Singapore’s week-long mission trip to Hanoi and Ho Chi Minh City from 19 - 25 October. SBF's Country Head in Vietnam, Amy Wee, will be one of the speakers on this upcoming mission trip. She shared that traditional sectors like manufacturing and logistics also hold promise for Singapore firms, and there is business potential for offering training and upskilling programmes for manufacturers in Vietnamese industrial parks.

Accelerating AI adoption with AI Trailblazers Initiative

On 27 September, SBF held a half-day AI bootcamp in collaboration with EDB, IMDA and Google Singapore to help companies find more more about how they can apply AI to their business. Participants were introduced to the AI Trailblazers initiative, a joint effort by Ministry of Communications and Information (MCI), Digital Industry Singapore (DISG), Smart Nation and Digital Government Office (SNDGO), and Google Cloud, which can help companies identify practical challenges that can be addressed using generative AI.

Companies keen to participate in this initiative can register their interest here.

6^th China Economic Outlook Webinar

SBF held the 6^th China Economic Outlook (CEO) Webinar on 28 September. Speakers from Singapore, China, Hong Kong, and Australia gathered to discuss Asia's global economic impact, China's digital economy growth and opportunities, and digital trends such as in HR management and business transformation. The event drew close to 300 senior business representatives from 18 countries, with more than half holding C-Suite or senior management roles.

Keen to expand your business to South Korea?

Over the past four decades, the Republic of Korea has achieved remarkable economic growth, transforming into a high-tech industrialised economy. The ROK's economic growth has rebounded to pre-pandemic levels, and in 2022, the Regional Comprehensive Economic Partnership Agreement (RCEP) came into force. Additionally, the Korea-Singapore Digital Partnership Agreement (KSDPA) was established between the two nations to promote digital collaboration and enhance connectivity in the digital economy. View the SBF Country Infographics to find out all you need to know about setting up a business in South Korea.

[19 October 2023]

Driving Sustainable Procurement Across Supply Chain

[20 October 2023]

Corporate Tax Planning: Maximising Tax Benefits

[23 October 2023]

Integrating Sustainability in ESG with Profitability

[27 October 2023]

Understanding Generative AI for Business Leaders

[31 October 2023]

Masterclass on COMPASS: Gain Insights into the New Framework

[08 November 2023]

Masterclass on Food Exports for Wholesale Trade