BIZSpoke | Forging Ahead with Confidence in Uncertain Times PwC and SBF's Recommendations for Budget 2025

24 JANUARY 2025

Forging Ahead with Confidence in Uncertain Times: PwC and SBF's Recommendations for Budget 2025

As Singapore navigates global uncertainties, PwC Singapore and SBF have collaborated with businesses and stakeholders to develop a comprehensive set of Budget 2025 recommendations, aligning with four strategic themes outlined by the government. This year’s recommendations are based on insights from extensive consultations, surveys, and discussions, including findings from the SBF’s National Business Survey 2024 and the Alliance for Action on Business Competitiveness. Representing the perspectives of Singapore's business community, the report addresses both immediate challenges and long-term objectives.

READ RECOMMENDATIONS REPORT

Pre-Budget Closed-Door Dialogue

Ahead of Budget 2025, SME business leaders from SBF and the Association of Small & Medium Enterprises (ASME) participated in a pre-budget dialogue with Mr Chee Hong Tat, Minister for Transport and Second Minister for Finance; Ms Low Yen Ling, Senior Minister of State, Ministry of Culture, Community and Youth & Ministry of Trade and Industry; and Mr Shawn Huang Wei Zhong, Senior Parliamentary Secretary, Ministry of Education & Ministry of Finance, sharing their perspectives on tackling challenges, leveraging opportunities, and fostering resilience.

MoU with HKGCC Promotes Economic Growth and Business Opportunities in SG and HK

On 14 January, over 100 influential business leaders gathered for the Singapore–Hong Kong Business Roundtable co-hosted by SBF and Hong Kong General Chamber of Commerce (HKGCC), where discussions focused on supply chain resilience, digital finance, sustainability, innovation, and entrepreneurship. At the roundtable, SBF signed an MoU with HKGCC, witnessed by Deputy Prime Minister Gan Kim Yong and Hong Kong’s Secretary for Commerce and Economic Development Algernon Yau, to promote economic growth and business opportunities in both cities. The delegation also engaged in networking opportunities hosted by HSBC, Cyberport Hong Kong, and the Ministry of Foreign Affairs Singapore.

Enduring Commitment by Both Governments is Key for JS-SEZ

SBF CEO Kok Ping Soon shared at the Manufacturing Day Summit that many are cautiously optimistic that this will herald a new era of economic integration between Johor and Singapore built on complementarity and collaboration. The first installment of early initiatives announced, such as the setting up of the Invest Malaysia Facilitation Centre, would help address some of the perennial pain points for businesses operating in Johor.

Explore the Johor-Singapore Special Economic Zone (JS-SEZ), connect with key government agencies and partners, gain crucial insights into Johor’s business landscape, and unlock cross-border growth opportunities with us on 19-20 February. Secure your spot now!

SYNERGISTIC TACS

Multi-Year Roadmap to Enhance Capabilities of TACs

Developed in collaboration with more than 40 Trade Associations and Chambers (TACs) and supported by Enterprise Singapore, the TAC Sector Transformation Map, unveiled on 22 January is a multi-year blueprint that details initiatives to promote the sustainable growth of TACs in Singapore. With nearly 20 new initiatives that will be rolled out over the next three years, these initiatives are targeted at bolstering TACs’ capacities and capabilities to better support companies, particularly Singapore’s small and medium-sized enterprises, as they transform and grow.

Unlocking Business Opportunities and Sustainability with DigiLeap

Join us at the Singapore Sustainability Academy (SSA) for an exclusive workshop and demo session to discover how DigiLeap can support your business development and sustainability journey, organised by the Singapore Energy Association of Singapore (SEAS) with KPMG as the technical support partner. Digileap is a digital platform designed to connect businesses, collaborate on opportunities, and explore sustainability-driven projects. Whether your company is sustainability-focused or not, Digileap can help you understand and engage with sustainability initiatives and projects.