Committee to review regulations to help firms lower costs in S'pore

Inter-ministerial committee seeks to cut red tape, boost business-friendly environment

- Timothy Goh

A new government committee will review regulations, with the aim of cutting red tape and creating a more business-friendly environment.

Transport Minister Chee Hong Tat said on May 24: "The Government wants to do what we can to help our companies lower transaction and regulatory costs, especially when it comes to transacting with the Government, when applying for licences, or embarking on some new and innovative business ideas."

Mr Chee was speaking at a briefing ahead of a meeting with members of the Alliance for Action (AfA) on Business Competitiveness, a public-private partnership set up in February 2024 comprising 19 representatives from the Government, industry, trade associations and chambers and trade unions.

The new inter-ministerial review committee will be chaired by Deputy Prime Minister Gan Kim Yong, and consists of Senior Minister of State for Trade and Industry Low Yen Ling and ministers K.

Shanmugam, Chee Hong Tat, Tan See Leng and Desmond Lee.