On July 23, 2021, Singapore introduced its latest S$1.1 billion (US$800 million) economic support package as the country returned to Phase 2 restrictions.
Biotechnology company BioNTech will establish its Asia-Pacific regional headquarters in Singapore, where it will also establish an mRNA manufacturing facility.
Singapore will increase the Central Provident Fund (CPF) contribution rates for employees aged 55 to 70 years from January 1, 2022.
Singapore’s government has provided an array of fiscal and non-fiscal incentives to help businesses reduce their overhead costs during the pandemic.
The Maritime and Port Authority of Singapore (MPA) will implement a two-phase increase in port dues rates from January 2022.
In line with Singapore’s business-friendly environment, the country’s import and export procedures are relatively efficient and simple.
Vietnam is eager to encourage more Singapore investments into Da Nang city, as the city aims to be a socio-economic center in Southeast Asia.
Singapore has prepared S$800 million (US$604 million) worth of enhanced measures for individuals and businesses during the Phase 2 period.
As of May 17, visitors from both countries can cross the border for compassionate reasons, such as visiting family members that are critically ill.
Singapore’s Corporate Venture Launchpad will run for one year and enable eligible corporates to launch investible new ventures within six months.