SINGAPORE — The process of productivity push in Singapore remains slow particularly in sectors such as construction and services, but restructuring will remain the nation’s focus going forward despite impact on businesses and economic growth.

This is according to Deputy Prime Minister Tharman Shanmugaratnam, who added that Singapore must accept slower growth rate against this backdrop, and the 2.5-3.5 per cent GDP growth currently projected is not at all alarming.

Mr Tharman made these comments when speaking to reporters while visiting Q.B. Food today (Sept 24). The food processing company has tapped SPRING’s Capability Development Grant (CDG) to install a cheese cutting and packing line.

The S$1 million project has helped the company push its cheese production volume by 60 per cent to meet a growing demand for the product, and the company is now able to explore Middle East as a potential export market, a spokesperson said.

CDG is part of the Government’s support measures to help companies transform into more productive businesses. Despite the efforts, overall productivity declined by 1.3 per cent in the second quarter this year.

Commenting on the mixed progress, Mr Tharman said that he is not concerned over quarterly figures, given that there have also been steady sectorial improvements in areas such as food and precision manufacturing.