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Singapore Budget 2014: Talent development and restructuring remain key challenges

Published on Mar 3, 2014 1:05 PM

Talent development is a key challenge in Singapore's a bid to remain globally competitive, Member of Parliament Jessica Tan said as she opened on Monday the debate on this year's Budget.

Ms Tan, who chairs the Government Parliamentary Committee for Finance and Trade and Industry, said Singapore needs to prepare students for jobs that might not exist now, but will be key pillars of the economy in the future, and she asked how that would be done.

The Budget's continued focus on restructuring and encouraging companies to invest in moving up the value chain is a signal to firms that they need to take advantage of the opportunities available.

She said the extension of the popular Productivity and Innovation Credit scheme in the Budget is an acknowledgment of the fact that restructuring takes time.

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