BIZSpoke | 26 January 2024 - SBF Reflects on 2023 Achievements and Charts Vision for 2024

26 JANUARY 2024

SBF Reflects on 2023 Achievements and Charts Vision for 2024

On 18 January, SBF organised a Year-in-Review 2023 event, during which SBF CEO Kok Ping Soon briefed media partners on SBF's significant achievements in 2023 and provided a preview of priorities for 2024. Throughout the year, over 16,000 business leaders and employees actively participated in a diverse array of activities, including events, workshops, forums, roundtables, and training sessions, totaling more than 600. The primary focus of these activities was to assist businesses in developing capabilities crucial for internationalisation, human capital, digitalisation, and transformation.

YIR 2023 is reported on: The Business Times, Zaobao, 8world, Berita Mediacorp

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WHAT'S NEW

Helping Singapore Businesses to Navigate Challenges in 2024

SBF CEO Kok Ping Soon highlighted the prevailing concerns in the business landscape, pointing out the rapid rise in business costs, challenges related to manpower availability, and the retention of local talent. He mentioned SBF's focus involves actively addressing these immediate challenges, encompassing the expansion of global operations and the reinforcement of proficiency in smart technology, sustainable development, and employee skills. He also expressed a hope for targeted government measures to provide assistance to businesses grappling with these ongoing challenges.

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More companies are booking early spots at CIIE 2024

The 7^th edition of the China International Import Expo (CIIE) in Shanghai, scheduled to take place from 5 to 10 November, has already garnered over 300 early sign-ups worldwide, with notable companies such as 3M, PepsiCo, and Tesla among them. Last year, SBF led a delegation of 56 Singapore companies to CIIE, underscoring its significance for business growth. SBF CEO Kok Ping Soon emphasised that CIIE continues to be a pivotal platform for Singapore companies aiming to expand their presence in the Chinese market, especially in burgeoning sectors like digital innovation and sustainability. If you are interested in participating in this year's edition, please reach out to [email protected].

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BUDGET 2024

Pre-Budget 2024 Closed Door Roundtable Dialogue

In preparation for the upcoming Budget 2024, SBF hosted a closed-door roundtable dialogue on 22 January with Deputy Prime Minister and Minister for Finance Lawrence Wong, Minister for Trade & Industry Gan Kim Yong, as well as representatives from the SBF Council and Action Committees. The objective was to gather ground insights from the business community, fostering discussions on potential growth and resilience opportunities.

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Strategic Insights for Budget 2024 at Singapore Budget Symposium

Acquire firsthand insights into key Budget measures, refining your understanding of strategically leveraging government support for fostering both local and international growth. Propel your business towards greater success by securing a spot in an exclusive 'In-Conversation with Ministers' session, offering a deep dive into the pivotal considerations shaping Singapore Budget 2024.

Raising Business Capabilities among SBF and KPMG Singapore Joint Budget 2024 Proposal

Emphasising the themes of digitalisation and environmental sustainability, the joint Budget 2024 proposal made by SBF and KPMG Singapore on 8 January aims to enhance Singapore's appeal to global businesses and talent. SBF Chief Policy Officer Musa Fazal, in addition to highlighting the importance of providing guidance to SMEs on sustainability reporting, also underscored the significant business costs faced by Singapore businesses. He called on both the public and private sectors to engage in discussions on navigating these challenges through the Alliance for Action (AFA).

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Highlights of SBF and KPMG Proposed Measures for Budget 2024 to Strengthen Singapore's Economic Landscape

SBF and KPMG jointly advocate strategic measures for the Budget 2024 that enhance enterprise capabilities, specifically focusing on digitalisation, decarbonisation, and internationalisation. The proposed initiatives aim to fortify Singapore's economic landscape and ensure its sustained prominence in the dynamic and competitive regional arena by fostering innovation, sustainability, and global market expansion.

Click here to read the full Budget 2024 proposal.

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#ICYMI

Johor-Singapore Economic Zone Boosts Connectivity and Business Opportunities

SBF CEO Kok Ping Soon expressed that the Johor-Singapore Economic Zone is dedicated to enhancing bilateral connectivity, enabling seamless movement of residents between Singapore and Malaysia, and providing robust economic support to enterprises. This initiative not only enhances economic prospects for businesses in both nations but also enables foreign corporations to leverage the complementary capabilities of both sides, identifying opportunities for development and investment.

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BS20 - Jordan-Singapore Tech Alliance Forum

Jordan-Singapore Tech Alliance Forum Sparks Tech Collaboration and Innovation

Crown Prince of Jordan Al Hussein bin Abdullah II, accompanied by Princess Rajwa Al Hussein, inaugurated the Jordan-Singapore Tech Alliance Forum. The forum, supported by the Ministry of Digital Economy and Entrepreneurship of Jordan, Jordan's embassy in Singapore, SBF and SG Tech, is designed to strengthen collaboration and foster innovation in the technology sector between Jordan and Singapore. It emphasises economic cooperation and digital entrepreneurship as key focal points.

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