SINGAPORE - A budget of up to S$100 million will, over the next five years, support companies here in meeting standards and being accredited.
This is as quality and standards (Q&S) is envisioned as a key pillar of the future economy, Deputy Prime Minister and Coordinating Minister for Economic and Social Policies Tharman Shanmugaratnam said on Tuesday (July 26).
He was speaking at a gala dinner held by Spring Singapore, the Singapore Standards Council and the Singapore Accreditation Council to mark the 50th year of the Singapore Standardisation Programme and the 30th year of the Singapore Accreditation Programme.
Q&S has underpinned Singapore's economic and social development as an independent nation, Mr Tharman noted.
In order to survive, Singapore had to, from day one, be relevant to the world.
Q&S was vital in making sure that products and components made in Singapore met global standards.
And it will play a key enabling role in Singapore's future economy as it can be a tool for firms to enter new markets. It can also support innovation as well, as Singapore plugs itself into global conversations on standards around new technologies.
More information about strategies firms can take to improve standards are expected to be detailed on Wednesday (July 27) by Minister of Trade and Industry S Iswaran at the Quality and Standards Conference.