Expanding Support for SMEs to Develop Leading-edge Capabilities

Mr Lee Hong Chuang asked the Deputy Prime Minister and Minister for Trade and Industry whether there are plans to further assist and expand support for Singapore small and medium enterprises to adopt and develop leading-edge capabilities, including in areas such as advanced manufacturing, digitalisation, artificial intelligence and internationalisation, so as to enhance their productivity and competitiveness.

The Government has a suite of initiatives to support the development of our small and medium enterprises (SMEs), enhancing their productivity and competitiveness.

We actively support businesses in developing new capabilities, such as adopting artificial intelligence (AI) and driving digital transformation. For example, the Infocomm Media Development Authority's SMEs Go Digital programme and the Chief Technology Officer-as-a-Service provide grant support for companies to adopt digital and AI solutions. The Digital Industry Singapore's Enterprise Compute Initiative supports SMEs in developing and deploying AI solutions by making cloud credits and related tools from leading cloud service providers available, as well as consultancy from professional services firms.

The Partnerships for Capability Transformation grant supports partnerships between our SMEs and multinational corporations or large local enterprises, in areas such as supplier development, co-innovation, capability training, internationalisation and corporate venturing. This allows our SMEs to boost their capabilities and enhance their regional and global competitiveness.

Businesses can tap on Enterprise Singapore's (EnterpriseSG) Enterprise Development Grant to upgrade, innovate and access new markets or the Productivity Solutions Grant to improve their productivity and automate their processes. For companies keen to internationalise, the Market Readiness Assistance Grant can help them defray the cost of overseas market promotion, business development and set-up.

The Government also partners with Trade Associations and Chambers (TACs) to support enterprise and industry capability development. This includes projects that TACs deliver to their members and sectors, as well as the services provided by SME Centres. SME Centres offer one-to-one business advisory services, capability-building workshops and group-based upgrading projects. For internationalisation, the Singapore Business Federation has set up the Centre for the Future of Trade and Investment, a public-private partnership supported by the Ministry of Trade and Industry (MTI), EnterpriseSG and other partners, to deepen businesses' capabilities for cross-border trade and investment.

MTI and EnterpriseSG, together with sector agencies, regularly review the supported solutions to ensure they remain up to date to meet the needs of our businesses.