Committee Focuses on Reducing Costs and Enhancing Flexibility for Small and Medium Enterprises
In an effort to make Singapore’s business environment more favorable, an inter-ministerial committee has been established to review and improve business regulations, particularly focusing on reducing costs for small and medium-sized enterprises (SMEs). Formed in April 2024, the Pro-Enterprise Rules Review committee is chaired by Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, with members including Transport Minister Chee Hong Tat, Home Affairs and Law Minister K Shanmugam, National Development Minister Desmond Lee, Manpower Minister Tan See Leng, and Senior Minister of State for Trade and Industry Low Yen Ling.
Chee Hong Tat, speaking at a media doorstop on May 24, highlighted the committee’s objective of addressing feedback from businesses, particularly SMEs, which have cited high costs when interacting with government processes. By engaging with various business groups and trade associations, the committee aims to identify key pain points and find ways to reduce regulatory burdens.
One of the committee’s early actions includes efforts to reduce licensing fees for drone light show operators. Previously, these fees were calculated per-drone, but the new policy will move to a per-show model, making it more cost-effective for operators.
In addition to the committee’s work, Low Yen Ling provided further details on the Alliance for Action (AfA) on Business Competitiveness, a public-private partnership set up to help local businesses remain competitive amid uncertain global conditions. Launched in February, the AfA focuses on improving manpower, land, and regulatory frameworks, with businesses already providing feedback during five sessions. The AfA is expected to present a list of recommendations to the government by the end of 2024.
Minister Chee emphasized that the new committee’s efforts will complement, rather than overlap, with the AfA’s initiatives, reinforcing existing workstreams to better serve businesses and ensure that regulations are both pro-business and flexible enough to meet changing demands.
