SBF presents position paper to Government's Committee on the Future Economy

SINGAPORE - Major business chambers and trade associations here officially presented a new economic position paper to the Government for its consideration on Tuesday.

A 36-page economic strategy proposal from the Singapore Business Federation was presented to Mr Heng Swee Keat, Finance Minister and chairman of the Committee on the Future Economy, at a conference on Tuesday (Jan 12).

The paper calls for, among other things, the Government to review its foreign manpower policies, and for workers' Central Provident Fund (CPF) monies to be used to help revive Singapore's lagging stock market.

It also asked the Government to explore the possibility of creating a new market that can exist between the mainboard and the Catalist junior board for the growing number of "middle class" companies with stable earnings.

The report is backed by 28 trade associations and chambers and some 70 top-level executives.

The SBF solicited additional views from the wider business community at Tuesday's conference, which was attended by more than 400 representatives from trade associations, large companies, and small and medium-sized enterprises (SMEs).