# Singapore Budget 2025: Implications for Businesses

- Link: https://www.thailand-business-news.com/asean/196329-singapore-budget-2025-implications-for-businesses
- Published: 2025-02-22T08:17:00+07:00
- Author: ASEAN Briefing

**Singapore’s Budget 2025 focuses on economic resilience amidst global uncertainties
with a record S$143.1 billion allocation. It emphasizes business support, workforce
upskilling, innovation, market liquidity, and collaborative research initiatives.**

## Budget 2025 Overview

Singapore’s Budget 2025, presented by Prime Minister Lawrence Wong, aims to strengthen
the nation’s economy amidst global challenges. With a record allocation of S$143.1
billion, up from S$134.2 billion in 2024, the government is focusing on supporting
businesses, upskilling the workforce, and promoting innovation. Economic growth 
is expected to slow to between 1.0 and 3.0 percent in 2025, after a 4.4 percent 
increase in 2024.

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## Market Incentives and Collaboration

To boost Singapore’s stock market, new tax incentives have been introduced for fund
managers investing heavily in local equities. This strategy seeks to attract more
listings on the Singapore Exchange, enhancing market liquidity. Additionally, the
Budget proposes a tax deduction for cost-sharing agreements, encouraging businesses
to invest jointly in research and development. This approach fosters collaboration,
sharing costs and benefits, and promotes technological advancements.

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## Workforce Development and Equity Incentives

To transform the workforce, the SkillsFuture Workforce Development Grant provides
up to 70 percent funding for job redesign activities. This initiative encourages
companies to innovate roles and processes, preparing the workforce for future challenges.
Furthermore, a new tax deduction for equity-based remuneration incentivizes companies
to offer share-based compensation, aligning employees’ goals with company performance
and promoting a culture of ownership and long-term commitment.

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  |  This article was first published by _[ASEAN Briefing](https://www.aseanbriefing.com) _, which is produced by [Dezan Shira & Associates](https://www.dezshira.com/). The firm assists foreign investors throughout Asia from offices [across the world](https://www.dezshira.com/office), including in in [China](https://www.dezshira.com/office/china), [Hong Kong](https://www.dezshira.com/office/hong-kong.html), [Vietnam](https://www.dezshira.com/office/vietnam), [Singapore](https://www.dezshira.com/office/singapore.html), and [India](https://www.dezshira.com/office/india) . Readers may write to [info@dezshira.com](https://www.thailand-business-news.com/asean/info@dezshira.com) for more support. |

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