SINGAPORE — Over S$10 million in Government funding was awarded to eight trade associations and chambers (TAC) in Singapore to help them implement projects that will improve productivity, develop talents and expand overseas.

This is part of Local Enterprise and Association Development (LEAD) programme, which has supported 30 TACs on 53 industry-upgrading projects totalling over S$160 million since 2005 while benefitting 38,000 companies, said Senior Minister of State (Trade and Industry and National Development) Lee Yi Shyan at the programme’s annual dinner today (Aug 29).

Of the eight TACs awarded tonight, Container Depot Association is looking to implement a container management system that will improve the efficiency of work process for depot and transport operators.

Singapore Food Manufacturers’ Association was also awarded for its proposal to set up a Tasty Singapore Food Product Centre in China, a physical touch-point where local food companies can showcase their products to Chinese buyers.

Projects like these have been instrumental in capabilities and competence at an industry level, Mr Lee noted, saying: “While individual firms are taking active steps to re-engineer and innovate, we will do well when our industries also come together to take on difficult but impactful industry-level restructuring and transformations.”

Mr Lee comments came as Singapore’s target to achieve a 2-3 per cent productivity growth by 2020 remains very much out of reach. Labour dependent industries such as manufacturing and construction have been hit by tightened labour policies, even as productivity suffered a 1.3 per cent decline in the second quarter this year following a year of gradual improvement.

But the Government remains focused on the agenda, with Trade and Industry Minister Lim Hng Kiang saying at the Parliament earlier this month: “Clearly, more needs to be done. Economic restructuring is a long-term effort. We must continue to press on with our restructuring drive.”