Area/activity or programme
Political Risk Insurance Scheme
Description Co-funding (up to 50% and the first three years) of the premium paid to protect overseas investment and projects against political risks (up to S$500,000 per applicant company)
Loan Insurance Scheme (LIS/LIS+)
Co-sharing of the default risk to help companies secure short-term trade facilities Co-funding (up to 50%) of the premium paid towards the trade Trade Credit credit insurance policy to Insurance safeguard against buyers' nonScheme payment risks (up to S$100,000 (TCIS) per applicant company) Source: WTO, 2016.
Eligibility
Global HQ in Singapore, and turnover not exceeding S$500 million Singapore-based company with at least 3 strategic business functions in Singapore The turnover is not to exceed S$300 million (S$500 million for trading companies) Singapore-based company, with at least 3 strategic business functions in Singapore The turnover is not to exceed S$100 million
Enhancements measures, 201215
None
None
None
3.7. Policy instruments adopted or modified since 2010 Given the activist role of state in Singaporean economy, it is no surprise that through the years a large number of industrial policy initiatives, bodies and instruments have been used to support the economic growth and driven industrial transformation. As a focus of this analysis, however, the timehorizon is selected to include initiatives launch during or after 2010, given, as argued before, amplification of constraints for the original growth model, changing global economic environment and increasing awareness nationally that adjustments are needed. To provide a good overview of the key industrial policy instruments used in Singapore starting from 2010 until 2017, a review of all industry-related instruments launched as major initiatives during the adoption of the national budgets in Singapore every year since 2010 is carried out below. Even if this may not provide an exhaustive list of all instruments and schemes that were in place during that time to promote growth, innovation, productivity, skills, labour mobility and other important elements pursued over recent years it should provide a good overview covering all those instruments that were deemed most important and that had a major financial (budgetary) implications. 3.7.1.Budget 2010 The budget in 2010 was adopted after the peak of the recession was reach in 2009 and signs of economic recovery were already visible. The goals presented in the budget refer to the recommendations of ESC report adopted the same year aiming to implement them, with a pronounced focus on productivity growth, aiming to double it from 1% in the decade until 2010 towards 2% to 3% during the next until 2020. Efforts to raise productivity by deepening skills and promoting innovation were expected to require 5.5 billion SGD over the first five years. To support this, the launch of National Productivity and Continuing education Council was announced as well as a commitment to spend 2.5 billion SGD to further expand continuing education and training sector.
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