Singapore is a high-risk country because of proximity to China according to Pharmaceutical Technology. The tourism and transport sectors are especially taking the strain. Impacts on manufacturing, retail, food and beverages will follow as China’s economy staggers. However, the Singapore Covid-19 plan aims to help firms stay on their feet, and keep the thriving economy alive.
Multi-Pronged Singapore Covid-19 Plan with Six Focus Points
A $4 billion package will stabilize firms and their employees. This will help businesses retain local workers and support wage increases. A 2020 corporate tax rebate will in addition help business cash flows. Elsewhere, Singapore Tourism Board is waiving 2020 license fees for hotels, travel agents, and tour guides. It will also defray sanitizing and cleaning costs in affected hotels.
The aviation sector of the economy will also receive support in terms of rebates on aircraft landing and parking. Furthermore, there will be assistance for handling and cargo agents and also airport shops. These are just highlights of the Singapore Covid-19 plan announced February 2020.
Additional Support for Taxis, Car Hires and Quarantined Employees
The government will co-support 40,000 drivers in the taxi, and private car hiring business with $20 daily grants. This is a co-funded scheme with government providing $45 million and taxi and private-hire companies paying the remainder. The National Environment Agency will waive one month’s rent for stalls in its managed hawker centers and markets under the plan.
There are also benefits for employers too, through a leave of absence program due to quarantine. This particularly applies to residents and long-pass holders returning from Mainland China (outside of Hubei), but with 14-day stay-at-home passes. Employers will receive daily payments of $100 per affected worker during this period. Eligible self-employed workers also receive the grant under the Singapore Covid-19 plan.
Related
Know the Covid-19 Truth Protect Yourself
Could Transmission by Food Cause Covid-19
Preview Image: COVID-19 Cases in Singapore
