Committee of Supply 2021 debate, Day 3: Janet Ang on Local Enterprises Funding Platform

The Government and Temasek Holdings are setting up a Local Enterprises Funding Platform with a S$1 billion war chest to help large Singapore firms transform or expand overseas on a bigger scale. NMP Janet Ang asked what the qualifying criteria for firms will be and how the funds will be channelled. She said this is a chance for large local enterprises to play “queen bee” and bring along SMEs as a portfolio of companies under the initiative. In Parliament on Tuesday (Mar 2), she also spoke of making a new social compact in the workplace, after talk of foreigners “taking” local jobs.