ISCA Pre-budget Roundtable 2024

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In Jan 2024, Protem Chairman Mr Chew Sutat sat on the panel for the ISCA Pre-budget Roundtable 2024, serving as a crucial forum to shape Singapore’s economic policies for the upcoming fiscal year. 

The ISCA Pre-budget Roundtable 2024 convened last Thursday, serving as a crucial forum to shape Singapore's economic policies for the upcoming fiscal year. Among the distinguished panelists was Mr. Chew Sutat, SGListCos protem Chairman, whose strategic insights and industry expertise significantly enriched the discussions. This annual gathering, attended by leaders from various sectors, focused on addressing key challenges and opportunities within the current economic landscape.

During the roundtable, business and industry leaders expressed concerns about escalating costs and geopolitical uncertainties, emphasizing the imperative for sustained transformation amidst challenges. Cautionary remarks were made about the complexities of growing Singapore's economy in the face of domestic constraints and a challenging external environment. Pressing issues such as rising energy prices, heightened logistics costs due to geopolitical disruptions, and a tight labor market were underscored.

Leaders advocated for government support in areas such as digitalization, upskilling, and sustainable practices. Recommendations included refining grant criteria for greater impact, supporting workforce skills development with a focus on older workers, and establishing nationally-recognized courses for emerging skills. Additionally, there was a call for assistance to companies in their sustainability endeavors and support for SMEs to comply with sustainability-related export requirements. These recommendations are positioned to play a crucial role in shaping the upcoming Budget on February 16.