Search
Close this search box.

We are creating some awesome events for you. Kindly bear with us.

Singapore Finance Minister Encourages Caring In Business for a Sustainable Future

Mr Heng Swee Keat, Finance Minister spoke yesterday at Stewardship Asia Roundtable 2019 with the theme “Business Future (Re)discovering Stewardship”. He spoke on global trends such as the rapid emergence and convergence of new technologies and the growing economic and strategic weight of Asia.

He said that these trends have implications on how to steward organisations in Singapore. He went on to to share three ways in which to be good stewards of the future: first, invest in innovation; second, invest in people; and third, invest in the community.

Invest in Innovation

As technology advances, and with global economic and strategic weight shifting towards Asia, supply chains will reconfigure. Businesses have to be quick to innovate, in order to stay relevant and competitive.

He said “Companies need to make the effort to understand new developments in technology in their fields, consider how these can be adopted and integrated into existing business processes, and create new value.”

Invest in People

To keep up with the fast-changing environment, the Minister said that leaders must empower workers to develop an attitude and spirit of continuous and lifelong learning.

Leaders can facilitate this by promoting upskilling and reskilling among workers, and utilise the skills that workers have learned or re-trained, this is so that technological advancements will help workers do their jobs better, smarter, and not replace them.

The Minister continued “I announced in this year’s Budget that the Government will spend 3.6 billion Singapore dollars over the next three years to help our workers thrive amid economic transformation.”

Government initiatives like the SkillsFuture and Professional Conversion Programmes have helped workers to pick up new and relevant skills, and put them into practice in an increasingly technology-intensive work environment.

Apart from raising capabilities, investing in people also means that companies should look after the health, safety and welfare of workers. Companies can adopt progressive employment best practices and promote fairer and more progressive workplaces.

Invest in Community

The Minister’s third point focused on investing in the community.  He said that ‘Each of us plays a part in building a caring and giving society that takes care of the needy and vulnerable.’

‘Companies should not just do well – they should also do good. Companies have an integral and multiplier role to play by offering their expertise and resources, and mobilising employees to create impactful and sustainable corporate social responsibility (CSR) initiatives. ‘

Singapore Government supports Caring In Business

In Singapore, the “Company of Good” is a very good initiative to recognise that people are at the heart of every company. The actions of people are what will create Singapore, where every organisation is giving back in one way or another.  To complement these efforts by companies, the Government will continue to enable and catalyse community efforts.

To support corporate volunteerism, the government introduced the Business and Institution of a Public Character Partnership Scheme (BIPs). Under BIPs, businesses enjoy a 250% tax deduction on qualifying expenditure incurred when they send their employees to volunteer and provide services to Institutions of a Public Character (IPCs).

In addition to the existing tax deductions on qualifying donations, we rolled out the Bicentennial Community Fund this year, which will provide dollar-for-dollar matching or donations made to IPCs. Singapore is commemorating the 200th anniversary of Sir Stamford Raffles’ arrival in Singapore.

The Government has also launched the SG Cares movement to promote active volunteerism, bottom-up initiatives and everyday acts of kindness across Singapore.

Mr Heng Swee Keat concluded that “Ultimately, a caring and cohesive society requires everyone, including businesses, to come together to do good for a more sustainable tomorrow.”

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

As a Titanium Black Partner of Dell Technologies, CTC Global Singapore boasts unparalleled access to resources.

Established in 1972, we bring 52 years of experience to the table, solidifying our position as a leading IT solutions provider in Singapore. With over 300 qualified IT professionals, we are dedicated to delivering integrated solutions that empower your organization in key areas such as Automation & AI, Cyber Security, App Modernization & Data Analytics, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Renowned for our consulting expertise and delivering expert IT solutions, CTC Global Singapore has become the preferred IT outsourcing partner for businesses across Singapore.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.