Tuesday, 18 Aug 2020 02:58 PM MYT
In the survey by the Singapore Chinese Chamber of Commerce and Industry , half of the companies said the Covid-19 pandemic has had a major impact on their business models and almost 60 per cent said it will take them one to two years to recover to pre-pandemic levels. He also announced that S$187 million will be injected into the aviation industry and S$320 million will be set aside for domestic tourism vouchers that Singaporeans may use to support the tourism industry.
Retrenchments are also on the rise, with 6,700 layoffs between April and June, compared with 3,220 in the first three months of the year, according to advance estimates from the Ministry of Manpower in July.SCCCI president Roland Ng noted that it has been an “extremely challenging year for businesses”.
These projects help enterprises adopt a “group-based solutions approach” in tackling common business challenges, according to Enterprise Singapore’s website.