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Singapore helps businesses’ exports to Asia

About 250 Singaporean businesses, mostly small and medium-sized enterprises, will receive support from the Government for their export activities to the emerging markets in Asia through a Trade Facilitation Scheme.
About 250 Singaporean businesses, mostly small and medium-sizedenterprises, will receive support from the Government for their exportactivities to the emerging markets in Asia through a Trade FacilitationScheme.

The businesses mainly operate in agriculture, informationtechnology, construction and auto industry and have established tradeties with Bangladesh, Pakistan and Vietnam.

Thescheme that came into effect on December 1 is sponsored by theInternational Enterprise Singapore with the support from the AsianDevelopment Bank (ADB), which provides credit guarantees and loansthrough small banks for businesses.

Steven Beck,an ADB official, said that the increase in trade activities betweenSingapore and other Asian countries will create growth and jobs in theregion.

The scheme is expected to help companiesincrease their global competitiveness by expanding business activitiesat less risky markets.

It also helps increase the country’s annual export value to the emerging Asian markets by 800 million USD.-VNA
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