Channel NewsAsia
Updated: 02/21/2014 19:54 | By Channel NewsAsia

Budget 2014: Enhancements to help companies seize opportunities abroad

Budget 2014: Enhancements to help companies seize opportunities abroad


Budget 2014: Enhancements to help companies seize opportunities abroad

SINGAPORE: The government will make targeted enhancements to further assist companies in seizing opportunities overseas.

It will raise the maximum loan quantum supported by the Internationalisation Finance Scheme (IFS) from the current S$15 million to S$30 million for two years.

This will boost debt financing for companies to make additional asset investments abroad or fund working capital expenses for secured overseas projects.

Secondly, the government will enhance the Global Company Partnership (GCP) Programme by raising the support level for pilot and test bedding projects from the existing 50 per cent to 70 per cent.

It will also expand support for staff attachments in overseas markets.

This should benefit some 200 companies over the next two years. 

- CNA/xq

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