Not even Covid -19 can stop Singapore property market’s life. Singapore pushes through with the mega infrastructure developments like the Tuas Mega Port, Changi T5 plus the state –of –the –art submarine cable system. Plus sophisticated, huge district developments such as the Sungei Kadut Eco-District, Jurong Lake District, Punggol Digital District, and Greater Southern Waterfront are in progress.
However, Mr Chan Chun Sing, the Minister of Trade and Industry explained that the time frame for the said projects would likely differ from the original plans. “ We would sync in the timelines for each development according to the needs or demand.” But no worries about this, all projects will be up and done,” he told.
In his presentation, Chan strongly addressed the economy’s clamour for its full operation so companies can get back and start their businesses again. There was a strong impact of Covid-19 after-effect in dangers job retrenchment as the majority of the big companies halted their operations while under circuit breaker measures. However, the government will not be pushed to be in a hurry in lifting the limitations and restrictions.
“Many claims that the best strategy to secure jobs is to reopen the businesses as quickly as possible. I understand.” Shared Chan.”
PROPERTY CHECK: Clavon @ Clementi Avenue
Companies need to embrace and refrain from expecting old business schemes as the economy reopens. Few of the business models need to be altered and the government assured that it will support companies while creating at least 100, 000 job opportunities.
“We might be required to create more and more jobs if the scenario deteriorated,” stressed Chan.
Through his speech, Chan reiterated Singapore’s pledge for free trade. Countless countries toppled down because of the pandemic. “We must combat these said pressures. A less connected world simply means fewer opportunities for all and the slowest progress of the country. A less involved Singapore means fewer jobs and chances for all,” he told.
Though Singapore can’t stop other countries from being the most protective, there are niches where the country continually leans on.
For example, four out of ten World’s Top Drugs factories are in Singapore, thus making Singapore the seventh world’s biggest exporter of various chemicals.
The country also aims to maintain a good reputation for the unhampered flow of capital, goods and services. No export limitations were imposed, nor were foreign investments nationalized.
“We preserved our production forces open for worldwide supply chains, that includes surgical masks. Hand in hand we worked with different companies to boost their production, in order to meet Singapore and the global demand. “We have also expedited the flow of basic needs and people via airports and seaports,” he said.
Chan hopes that with such an environment, foreign businessmen and investors around will feel assured and safe. He gave an example: the 1970s oil spiked crisis in Singapore did not halt export activities then. Jurong Island turns huge as a petrochemical centre.