Speech by MOS Low Yen Ling at the Makan For Hope Festival 2021 Closing Ceremony

1 A very good evening to all and thank you for the privilege to be invited to speak at the Makan for Hope Festival 2021 Closing Ceremony.

2 First of all, let me thank Andrew and Elise, co-founders of Makan for Hope, for organising this very meaningful initiative. It is heartening to see so many tech industry leaders, many of whom are friends and familiar faces.

a. Makan for Hope is an enterprising way of raising money for those in need, while offering at the same time, the opportunity for the tech community and entrepreneurs to connect, learn and share experiences.

b. This event is also an excellent platform to nurture young aspiring entrepreneurs. I am certain that the 30 virtual roundtables at Makan for Hope have seeded new plans, fresh ideas and innovations among them.
 
Inspiring Entrepreneurs of Tomorrow

3 The COVID-19 pandemic has disrupted many aspects of our lives – from the economy to daily living. Businesses, both big and small, are having to digitalise and innovate at a faster pace amid a rapidly changing landscape.

a. We need to continually adapt and evolve fresh ways of doing business. Technology is fast becoming a mainstay for the future survival of enterprises.

b. Amid these disruptions and changes, many Singapore enterprises are embracing technology and pivoting to new opportunities. Companies are also heeding the call to evolve their business models.

c. Likewise, the Government is firmly behind the concerted drive to chart new paths and opportunities for our people and businesses.

Supporting Our Entrepreneurs

 4 The Government is deeply committed to the future and the continual growth of our enterprises. Aspiring entrepreneurs can have the confidence that the Government takes a holistic approach in supporting businesses, all the way from start-up stage, to R&D and their journey towards innovation.

a. For instance, MTI has a dedicated Pro-Enterprise Panel (PEP) comprising business leaders and senior public officials whose aim is to enable a pro-enterprise environment for businesses to thrive. This includes streamlining rules, reviewing the way we regulate and getting rid of unnecessary red tape.

b. To date, the PEP has received over 2,000 suggestions, which has led to over 1,000 changes that benefit enterprises. The work of the PEP has also encouraged regulators to pro-actively seek out suggestions and initiate pro-enterprise changes.

c. For example, MOH collaborates with the PEP to hold “clinics” organised by Trade Associations and Chambers (TACs) to help businesses in health regulatory matters.

d. Another example of how PEP has improved the business environment for enterprises is the relaxation of a criteria by BCA which now allows firms to pool together resources and competencies at the project level to meet tender requirements. This has effectively opened up more opportunities for hundreds of firms, especially SMEs, to partner with larger players to gain business opportunities.

5 As we nurture the seeds of entrepreneurship, the Government also focuses on building close collaboration between the public and private sector to enable SMEs and start-ups to deepen and widen their capabilities.

a. For instance, our government agencies worked with Google to roll out the Skills Ignition SG programme to strengthen in-demand skills through vocational and on-the-job training. Last year, Google and UOB expanded their SME Leadership Academy to include curriculum that addressed challenges from COVID-19. The Academy’s capacity has since grown ten-fold from 400 to 4,000.

6 In addition, we partnered digital giants like IBM and Microsoft in a programme to hire and train more than 1,000 Singaporeans in technology skills.

7 In the area of e-commerce, we roped in tech industry leaders like Amazon and Shopee to help our enterprises pivot online through the government’s E-Commerce Booster Package. Amazon’s inaugural Southeast Asia Online Seller Summit in January this year gave our local SMEs the chance to reach the bigger global market.

8 SkillsFuture partnered Shopee to enhance the knowledge and e-commerce skills of our SMEs. Together, the capability needs of the SMEs were mapped out, and training plans were formulated to support their digital transformation.

9 All of these efforts are all part of our overall aim to accelerate the creation of good jobs in the digital economy, while enhancing the relevance and skills of our workforce and enterprises.

Conclusion

10 I am greatly heartened by the theme for this year’s Makan for Hope, “Seeding Hope for Future Generations”. Indeed, this festival not only plants fertile seeds for startups to advance, but also gives new hope to the beneficiaries of Fei Yue, a social service organisation.

a. The money raised by Makan for Hope will pay for the speech and occupational therapy of low-income children with special needs and also support vulnerable seniors.

b. Makan for Hope 2021 reflects an exemplary spirit of entrepreneurship that cares for the needs of our society. I applaud this highly commendable and unique event.

11 I trust that you have gained new insights and friendships and we can all look forward to the fruits of a new generation of entrepreneurs to come, and a better future for many.

12 I wish you a very enjoyable and successful evening. In the meantime, do stay safe and stay well. Thank you.