From The Gallery

Budget debate: A good time to ramp up industry transformation - and measure its outcome

Close to half of MPs' questions for the Trade and Industry ministry focused on small- and medium-sized enterprises. PHOTO: ST FILE
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SINGAPORE - The economic mantra goes like this: innovation is crucial to productivity, and productivity leads to growth. Hence governments around the world are right to channel resources into innovative and growing industries.

But picking winners is an imprecise art. Pumping money into promising start-ups, for example, does not guarantee that they will scale up and become viable.

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