Less red tape? Singapore to reduce regulatory burden for companies

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 66%

National Day Rally 2024 News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

To ensure a business-friendly environment, Singapore needs to keep the regulatory burden to a minimum, says Prime Minister Lawrence Wong in his first National Day Rally.

“Every few years or so, we have to do a thorough and proactive review of our rules and processes, and prune them back where possible,” he said in his speech on Aug 18. He cited an example of how difficult it was to get permits and registrations done for a drone show. "Previously, a drone show using 1,000 drones would incur more than S$25,000 in compliance costs. Now, it will cost just S$500," PM Wong said.

“Every few years or so, we have to do a thorough and proactive review of our rules and processes, and prune them back where possible,” he said in his speech on Aug 18. He cited an example of how difficult it was to get permits and registrations done for a drone show. "Previously, a drone show using 1,000 drones would incur more than S$25,000 in compliance costs. Now, it will cost just S$500," PM Wong said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines