Helping businesses to scale up globally
To further support the growth of local businesses, the Singapore government will continue to develop a smart financing ecosystem, Heng said.
The government will commit up to S$600 million in government capital for a new International Partnership Fund. The fund will co-invest with Singapore-based firms to help them scale-up and internationalise.
The government will also enhance schemes to bridge existing gaps in financial markets for project finance, Heng added. By catalysing private finance and sharing risks with financial institutions, this will help local companies to better tap into the growing market for infrastructure development in emerging economies, particularly in Asia.
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