Business

Govt to encourage TACs to collaborate

More government support is on the way to encourage trade associations and chambers (TACs) to work together on major projects and help manufacturers to lift productivity.

Mrs Josephine Teo, Minister in the Prime Minister's Office and Second Minister for Manpower and Home Affairs, told a conference yesterday that funding for TACs has been enhanced.

For instance, "high impact, multi-TAC projects" under what is called the Local Enterprise and Association Development (Lead) programme can now be supported for up to 90 per cent of the costs, up from the usual 70 per cent granted.

The Government has set aside $100 million to help TACs drive enterprise and industry development.

The conference was part of the Manufacturing Solutions Expo organised by the Singapore Manufacturing Federation (SMF) and Sphere Exhibits.

A memorandum of understanding signed at the event formed The Manufacturing Alliance, comprising SMF, Singapore Infocomm Technology Federation, Singapore Precision Engineering and Technology Federation, and Singapore Industrial Automation Association.

Mrs Teo also said TACs can help firms such as An Sing Trading - a manufacturer and distributor of motor vehicle parts - as they "not only understand businesses, but are also able to reach out to a wider pool of small and medium-sized enterprises (SMEs)".

She noted that An Sing Trading was an example of a firm changing its mindset and embracing transformation.

It implemented an online business-to-business solution to manage excess inventory in an automated manner, and raised productivity by 20 per cent. - THE STRAITS TIMES

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