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Number of business entities formed in Singapore down 30% in April vs 5-year average

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Some 3,800 business entities in Singapore were formed in April, over 30 per cent lower compared with a recent five-year average due to the COVID-19 pandemic.

SINGAPORE — Some 3,800 business entities in Singapore were formed in April, over 30 per cent lower compared with a recent five-year average in the same period due to the COVID-19 pandemic, said Senior Minister of State for Trade and Industry Chee Hong Tat in Parliament on Friday .Most sectors saw a fall in the formation of new business entities in April, said Chee, who is also Member of Parliament for Bishan-Toa Payoh GRC.

“For the rest of 2020, the COVID-19 pandemic is expected to have a severe impact on many sectors of our economy,” Chee noted. However, he noted that sectors, such as biomedical manufacturing and the information & communications sector, will continue to grow.

 

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हमने इस समाचार को संक्षेप में प्रस्तुत किया है ताकि आप इसे तुरंत पढ़ सकें। यदि आप समाचार में रुचि रखते हैं, तो आप पूरा पाठ यहां पढ़ सकते हैं। और पढो:

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इंडिया ताज़ा खबर, इंडिया मुख्य बातें

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About 3,800 companies closed down in April; expect uptick in coming months: Chee Hong TatSINGAPORE: About 3,800 companies closed down in April, comparable to the average of 3,700 recorded in the same month over the past five years, ...
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