Collaborations to help firms in best practices for 7 priority industries
The government is embarking on industry-wide collaborations to help individual firms in the productivity drive.
These include industry projects in which consortia of firms will develop solutions to industry-specific productivity challenges.
Finance Minister Tharman Shanmugaratnam said the approach will be adopted in seven new priority industries.
He believes this will also enable best practices to be widely replicated.
The initiative is expected to cost the government $100 million over three years.
In addition, the existing Partnerships for Capability Transformation will be broadened and enhanced beyond manufacturing to cover other sectors.
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