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Productivity criterion is not new

Productivity criterion is not new

Dear Editor,

Productivity criterion is not new

Your report "Productivity to play role in JTC lease renewals" (4 Nov, p1) and editorial "Linking leases to productivity not practical" (7 Nov, p24) suggested that productivity is a new criterion for lease renewal in Singapore. This is not accurate. The productivity criterion is not new. It has been one of the factors in JTC's evaluation of applications for land allocation and lease renewal for about 15 years.

In land scarce Singapore, land needs to be used and managed carefully. JTC cannot simply build and allocate industrial space without considering how it is used. All lease renewal applications are therefore considered carefully by JTC, together with SPRING and EDB. In making the assessment for lease renewal, JTC considers a number of factors, including productivity, the ability of the projects to create good jobs, the amount of investment the companies put in, the linkages of the projects with other sectors and the companies’ growth strategies. The considerations for lease renewals are communicated clearly to the lessees 6 years in advance of renewal so that they have time to review and align their business plans. Lessees will generally be informed of the results of their applications at least 3 years before the leases expire so that they have sufficient time to look for new premises.

JTC projects also support productivity in other ways. For example, JTC will also develop more industrial facilities that will support the transformation of industries and raise productivity. These include specialised projects that create collaboration opportunities, and also enable the sharing of common facilities to lower business costs.

Productivity is a key national imperative. Given that land is a precious resource in Singapore, JTC has an important role to play in boosting the productivity of the companies on JTC properties.

We appreciate it if BT can publish this letter. Thank you. 

 

Mrs Cindy Keng
Director, Corporate Communications Division
Ministry of Trade and Industry

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