【Singapore Fiscal Benefits Series 3】Focus on the Last Few Areas!
For more information on Singapore’s investments and incentives, today we’ve summarized the last few areas: human resources, sustainability, and shipping and logistics. Come and learn more about it~
Human Capital and Competency Development
Corporate Training Grant (TGC)
“The Energy Efficiency Fund (EF2) and the Energy Resource Efficiency Grant (REG(E)) are available to companies, including small and medium-sized manufacturing companies undertaking energy efficiency projects in Singapore.
Training grants are also available to fund the development of local expertise and capacity in professional energy management.
In addition, it reduces initial registration fees, annual tonnage tax and preferential port charges of up to 25% for ship owners who voluntarily adopt solutions such as enabling ships to exceed environmental regulatory standards, encouraging Singapore-flagged ships to reduce greenhouse gas emissions and ocean-going vessels to adopt pollutant reduction solutions.
Companies are also encouraged to accelerate the commercialization of new and promising water source technologies locally at an early stage. Eligible costs include labor, training, equipment and professional services costs.
Funding is available up to 50% of the project cost, with total project cost expenditure including manpower cost, equipment cost, material cost, professional services, intellectual property and other ancillary costs.
Projects considered to be of strategic importance or industry impact may be eligible for a higher percentage of the funding amount.