ISCA CEO, Mr Lee Fook Chiew, was quoted in The Business Times on the question of "What should be the focus of Singapore's Budget 2021? Is there any issue in particular you wish to see addressed?" This is what he has to share:
Budget 2021 should focus on positioning Singapore to emerge stronger from the COVID-19 pandemic. It is more crucial than ever for Singapore to accelerate its innovation and digital transformation efforts as well as its industry transformation plans.
Trade associations and chambers (TACs) are vital links between the government and business communities, and they can play an important role in driving these efforts. Although there is currently some support rendered to TACs, more can be done to channel the government’s funding to TACs to help their industries and members during these challenging times. For example, with more funding, TACs will be better resourced to hand-hold members in their digitalisation efforts to prepare them for recovery. This was also echoed by other representatives from the TACs at the ISCA Virtual Pre-Budget Roundtable 2021 held last month. Budget 2021 can give TACs a real boost with more funding provided. The additional funding will go a long way towards helping TACs develop and drive relevant initiatives congruent with Singapore’s long-term growth plans.
- Lee Fook Chiew, Chief Executive Officer, Institute of Singapore Chartered Accountants (ISCA)