Dear Valued Customers,
Welcome to the month of September! Can you believe how quickly we are approaching the end of the year? Since our last catch up, several key things have taken place in Singapore, Malaysia, and Hong Kong and here’s a brief snapshot of some of our highlights for the month.
Over in Singapore…
Digital Economy Deals to Boost Connectivity Resilience
As one of Asia’s most bustling business hubs, Singapore is an inclusive and connected business gateway. The nation continues to strive towards working with like-minded partners who share similar goals. These goals are better global trade and security. That is why Singapore is developing digital economy deals to help boost connectivity resilience.
Singapore provides its investors with a safe harbour. This is a place where investors can rely on consistency and coherence to take precedence. This precedence has been responsible for boosting company incorporation. If you would like to be part of the new digital era, 3E Accounting is here to help you start a business with our high-quality and affordable company incorporation services.
The Largest Rise in Digital Investments During COVID-19
While the whole world was reeling from the COVID-19 pandemic, Singapore had a single-minded focus. That focus was digital investments. This is why Singapore experienced the largest rise in digital investments because of the need for new technology adoption, innovation, and integration.
Yes, the current economic situation globally is still difficult. However, Singapore is always on the forefront when it comes to adapting digital innovation. This has helped us overcome situational economic changes. Singapore has and will continue to be recognised as one of the top business hub through digital investments for entrepreneurs. If you want to start a Singapore company, this is the way of the future. This is where you want to be.
Meanwhile, in Malaysia….
Small Entrepreneur Digitisation Empowerment Programme
Malaysia’s Small Entrepreneur Digitisation Empowerment Programme is seeking to on-board 1,000 micro-entrepreneurs by December 2021. The programme, also known as Pupuk Malaysia or Pupuk for short, will choose 1,000 micro-entrepreneurs to participate in the initiative.
Pupuk aims to enable microenterprises and help them transition their business towards embracing the e-commerce platforms and cashless transactions.
320,000 Jobs Created via PenjanaKerjaya 3.0
Even more good news coming out of Malaysia is how the nation is achieving its job creation targets. The Ministry of Finance (MOF) reports that the National Employment Council, through the ongoing PenjanaKerjaya scheme, created 320,000 jobs as it entered phase 3.0. Creating these jobs continues to sustain the livelihoods of the people in Malaysia as the nation recovers from the COVID-19 pandemic.
As for Hong Kong…
Government to Increase 5G Subsidy Scheme Funding
The Hong Kong Government will increase the 5G subsidy scheme funding to encourage early deployment of 5G. Those who wish to apply for the subsidy scheme must do so by 31 July 2022. The Subsidy Scheme for Encouraging Early Deployment of 5G falls under the Anti-Epidemic Fund. 50% of costs relevant to deploying 5G technology will be subsidised by the scheme. This includes high speed, high capacity, low latency, and massive connectivity.
Hong Kong Trade & Industry Department to Upgrade Business Fund
Meanwhile, the Trade & Industry Department plans to upgrade the business funding scheme. The aim is to implement enhancements that will help enterprises broaden their geographic reach. This will help them develop a more diversified market too.
Until next time, stay safe and healthy.
Thank you.
Lawrence Chai
Founder, 3E Accounting Group
Read More in our E-Newsletter September 2021.
