Analyses & Studies

Singapore Budget 2020 for Businesses

In the 2020 Budget Statement delivered on 18 February 2020, Deputy Prime Minister and Finance Minister Heng Swee Keat shared about the measures that the Government will put in place to support businesses through the uncertainties in the global environment while preparing them to capture the opportunities in the future.

Some of you took part in the “Growing Our Economy Together” engagement on 20 November 2019 and shared many useful suggestions and feedback which were integral in the discussions on ways to support our enterprises. 

You may wish to visit https://www.singaporebudget.gov.sg to read the Budget speech in full and refer to the Budget Annex for more details on the measures announced. Both documents will be uploaded by 18 Feb, 9pm. The attached MTI Budget Booklet for Businesses informs businesses about the broad relief measures and the various support schemes, both new and existing, that will help businesses deepen capabilities.

For more information on sector-specific relief measures, businesses can refer to the attached MOF’s infographics on business measures. Businesses can also visit Enterprise Singapore’s Budget microsite https://www.enterprisesg.gov.sg/budget-2020, which will go live on 18 Feb, 9pm, and the Singapore Tourism Board’s website https://www.stb.gov.sg,  which will also go live on 18 Feb, 9pm.

We hope that the above materials are useful and that representatives can share these materials with your members and partners.