Businesses will have to adapt to a changing international environment: SM Lee

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Economic growth and transformation remain essential to improving Singaporeans’ lives, he said.

The National Trades Union Congress (NTUC) has launched Company Training Committees (CTCs) with government support to translate Industry Transformation Maps (ITM) into training programmes tailored to the needs of individual companies.

This can be done through a competitive corporate sector, with companies that are growing and those doing less well being able to pivot to more productive sectors, or exiting the business completely, he said.“This is how free markets generate growth, and this is how our economy has to work.

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Article Details

Category: EconomyBusiness

Markets: SingaporeAustraliaChileChinaIndiaSouth KoreaNew Zealand

Topics: Trade Economic Companies Singapore Businesses Singapore’s Environment Minister Noted Transformation Economy

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-30 @ 21:45:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 1004 words

Reading Time: 6 minutes read

Sentences: 32 lines

Sentence Length: 32 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 22794074

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