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Singapore’s Budget 2017 addresses near-term issues for today and focuses on laying the groundwork for tomorrow’s growth.

Much of the longer-term measures announced were a follow up to the recommendations in the report of the Committee of the Future Economy ("CFE"). The key thrust is for the development of strong capabilities in enterprises and workers so that they can adapt to the changes in economic structures and technology. Additionally, the Government also encourages the forging of deep partnerships with businesses, unions, firms and workers to share expertise and solutions through the Industry Transformation Maps for 23 sectors. To this end, a slew of fairly substantive measures and initiatives were announced to help firms with good prospects to scale up, innovate and go international.

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