More than S$500m will be allocated to support digital transformation of businesses amid COVID19 outbreak: DPM Heng
This bonus will be provided by the Infocomm Media Development Authority , National Environment Agency , JTC Corporation, Housing Development Board and Enterprise Singapore, he noted.Businesses that are “ready to take their basic payment and invoicing functions digital” will also receive support in the Fortitude Budget.
Eligible businesses can receive a payout of up to S$5,000 if they adopt PayNow Corporate and e-invoicing, as well as business process or e-commerce solutions, he added. Another S$250 million has been set aside to help businesses digitalise in partnership with digital platform solution providers and industry champions, said Mr Heng.
“The Government will harness the talents of our best software engineers, AI experts, learning scientists and educators to develop the relevant pedagogy and build new digital platforms for online teaching and learning, and integrate the latest advancements in AI and learning sciences,” Mr Heng said, adding that the National Research Foundation and the Ministry of Education will provide more details at a later date.
“We hope that corporates, startups and others in the private and people sectors can step forward to form partnerships to provide solutions that can be scaled," he said, noting that the Government will provide support for this.Noting that digital solutions will become “more deeply embedded in our lives”, Mr Heng noted that telecommuting, on-demand food and services and virtual events are now the norm.“This is a good thing.
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