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.

The businesses mainly operate in agriculture, information technology, construction and auto industry and have established trade ties with Bangladesh, Pakistan and Vietnam.

The scheme that came into effect on December 1 is sponsored by the International Enterprise Singapore with the support from the Asian Development Bank (ADB), which provides credit guarantees and loans through small banks for businesses.

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

The scheme is expected to help companies increase their global competitiveness by expanding business activities at less risky markets.

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