The business community and the Government should work together to simplify rules to help Singapore's economy remain competitive, Trade and Industry Minister Chan Chun Sing said yesterday.
Mr Chan told the Pro-Enterprise Panel-Singapore Business Federation (PEP-SBF) Awards 2019: "This is something unique in Singapore. And this is one of our competitive advantages. We work in partnership, we don't compete against one another. We compete as a team against others."
The PEP, which comprises business leaders and senior public officers, needs to go beyond acting on businesses' feedback to change and improve government rules and regulations, he added.
This should involve devising rules to support new business ideas and pioneer regulations to facilitate growth, Mr Chan said.
The PEP was set up in 2000 and has received more than 2,000 suggestions, resulting in around 1,000 rule changes for the business community.
To take it forward, Mr Chan said an upgraded version that stresses the importance of partnership between businesses and government agencies should be in place.
"We need partnership 2.0, where businesses and government debate, deliberate and co-create a business environment that is conducive," he said at the event, which attracted around 200 business people and government officials at the National Gallery.
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1,000
Number of rule changes for the business community, from the more than 2,000 suggestions the Pro-Enterprise Panel has received since it was set up in 2000.
"This is also key to how we see governance going forward. It is never about one party highlighting their challenges or problems and leaving another party to solve it," Mr Chan added.
"But instead, the Singapore approach is that when we see a problem, be it raised by the Government or the businesses, we will all come together to solve it because we are one Team Singapore."
Singapore was ranked No. 1 in a recent global ranking of the most competitive economies. And simpler business rules and having regulators who are responsive to change contribute to that high ranking, Mr Chan noted.
"Our next challenge is to beat ourselves to have higher standards and higher benchmarks... so that we can do justice to the potential of our people and businesses," he added.
SBF chairman Teo Siong Seng said in a separate speech that the local business community needs to work more closely with the Government to maintain Singapore's competitiveness, especially in the era of rapid technology change and uncertainties.
"With disruption being the norm, the pace of technological change and innovation has accelerated. It is important that the public agencies continue to be nimble and flexible in their formulation of regulations," said Mr Teo.
He urged the Government to continue to identify new areas where rules can be simplified: "In areas where there are no existing regulations, ministries and agencies can work closely with the business community through open and frank consultations."
Mr Teo said he hopes the Government, in taking a more holistic approach in rule-making and fine-tuning existing ones, will help reduce the regulatory and compliance burden on the businesses that are already facing cost and competition pressures.
Mr Chan also unveiled a new PEP logo that symbolises an active conversation between businesses and the Government.
There were 16 awards given out to businesses, trade associations and public agencies to recognise their efforts in improving Singapore's business environment.
