Targeted measures needed to help different types of companies, says Chan Chun Sing
SINGAPORE: Support measures must be “targeted” in order to help the different types of businesses survive the impact of the COVID-19 pandemic, said Trade and Industry Minister Chan Chun Sing on Thursday (Aug 13).
Speaking during an interview on CNA’s Asia First, he said there are three different types of companies.
The first type refers to those that continue to see a growing market despite the pandemic-fuelled downturn, such as those in the biopharma and precision engineering industries.
The second category includes those in sectors such as retail, and food and beverage where demand has shrunk temporarily but will eventually recover.
The third type of companies has been the hardest hit, according to Mr Chan, as “demand is not likely to come back in the short to medium term”. Thi...