Singaporean Prime Minister Lee Hsien Loong encouraged small and medium sized enterprises (SMEs) to venture overseas with the Government’s help at the Malay-Muslim Business Conference held in Singapore on May 7.

“By raising productivity and hiring better workers, SMEs will be in a stronger position to venture overseas – whether to sell your products and services, or to expand your production capabilities,” he said.

He added that many of the SMEs already have a significant part of their clientele or business in Indonesia , Malaysia and even beyond as they can take advantage of lower costs and more space and land there.

PM Lee assured the companies that the Government will also help SMEs to go overseas, adding relevant agencies are subsidising companies’ participation in international trade fairs and business missions, providing grants to offset the upfront costs of market research and setting up overseas businesses.

He told the conference that the Government will help SMEs maximise their local and foreign workers’ contributions, amid the ongoing manpower crunch. He said firms can tap various Government support schemes.-VNA