EDB SOCIETY NEWS
EDB SOCIETY NEWS
20 Feb, 2024
Budget 2024 at a Glance
Singapore will introduce a new Refundable Investment Credit (RIC) for substantive, high-value economic activities, as part of the country’s investment promotion toolkit, said Finance Minister Lawrence Wong on Friday (16 Feb 2024).
The tax credit with a refundable cash feature will help Singapore stay competitive and attract investments from global companies with the right know-how, he said during his Budget speech in Parliament.
The RIC encourages companies to make sizeable investments that bring substantive economic activities to Singapore, in key economic sectors and new growth areas.
Supported activities include investing in new productive capacity, such as manufacturing plants; expanding or establishing the scope of activities in digital services; and expanding or establishing headquarter activities.
24 Jan, 2024
Sustainability updates from Singapore for businesses – a round-up from December 2023
A small, low-lying island nation, Singapore intimately recognises the threat of climate change. Without access to abundant low-carbon energy sources and bio-based resources, our green journey is not easy. But we understand the urgency of response and are committed to forging the path ahead to a sustainable future.
Singapore has outlined a series of national initiatives focused on sustainability. We are mobilising all our capabilities to adapt to a changing climate, enable decarbonisation, and stimulate green growth opportunities amidst Asia’s sustainability journey.
Singapore announced various initiatives in December 2023 to accelerate collective climate action in our part of the world and beyond. Here’s a recap of significant developments, company announcements and insightful content that capped off 2023.
02 Jan, 2024
The Next Silicon Valleys: Singapore as a Gateway to Southeast Asia
Repetition never spoils the prayer: The three most important criteria for investing in a home are location, location, location. And given it takes an ecosystem to build industries, we think the same can be said for founders and companies contemplating headquarter sites, expanded operations, or simply new investment opportunities. As the world shifts in response to technological change, macroeconomic conditions, and geopolitical stances, some regions have plainly excelled in the Darwinian adaptations essential to sustaining thriving entrepreneurial ecosystems.
In the United States, Silicon Valley is still king of the hill for technology companies and the epicentre for startup financing thanks to a concentration of venture capital firms, top talent, fertile training institutions, and reverberative exits. Across the Atlantic, London remains home to nearly 70 per cent of the United Kingdom’s private equity and venture capital investors in spite of Brexit, attracting some $20 billion in funding last year — double the amount raised in any other European city.