PUBLISHED ONAugust 05, 2026 12:58 PMBYSean LerLocal businesses are not only dealing with immediate pressures arising from global uncertainties such as the Middle East conflict, but also have to navigate a rapidly changing economic landscape shaped by developments such as artificial intelligence (AI) and climate change, National Development Minister Chee Hong Tat said on Wednesday (Aug 5).
Speaking at the Singapore Chinese Chamber of Commerce and Industry's (SCCCI) SME and Infocomm Commerce Conference (SMEICC) 2026, Chee said the Government would continue working closely with businesses to help them adapt and remain competitive.
"The government can work together with our businesses to tackle these challenges, to enable our employers and workers to adapt to the new economic landscape," he said.
The SMEICC is SCCCI's flagship event that brings together business leaders, entrepreneurs and trade association representatives to explore technology-driven innovations and exchange ideas.
Turning to this year's theme, "Beyond Partnerships — Where Growth Comes Next", Chee highlighted four areas where the Government is supporting businesses and SMEs: overseas expansion, sustainability, AI adoption and a more pro-enterprise regulatory environment.
Chee noted that Southeast Asia remains an attractive place to do business due to its young population, growing middle class and increasing trade and digital connectivity.
He pointed to initiatives such as the upgraded Asean Trade in Goods Agreement and Asean Digital Economy Framework Agreement, which he said would provide local businesses and Singaporeans greater access to opportunities in wider markets.
He added that the government is also working with trade associations and chambers such as SCCCI to help businesses expand into new markets.
One example is the GlobalConnect@SCCI initiative, which provides business advisory and matching services that enable Singapore companies to deepen their internationalisation capabilities and accelerate market access in China.
To further support its members, the SCCCI is also establishing a new international advisory panel to further efforts in supporting its members to strengthen their international connections and expand their business prospects, particularly in Southeast Asia and China.
Chee, who recently took over from Senior Minister K. Shanmugam as deputy chairman of the Inter-Ministerial Committee (IMC) on Pro-Enterprise Rules Review, also encouraged SMEs to tap on the SME Centres, which offer business advisory services and support for companies looking to grow and transform.
On Enterprise Singapore's website, there are also a range of financial support for businesses, such as the business adaptation grant that helps businesses navigate new tariff measures; the productivity support grant that helps businesses improve productivity through IT solutions and equipment.
Then, there are also other schemes such as the market readiness assistance grant and double tax deduction for internationalisation, that are aimed at supporting businesses in their overseas market expansion endeavours.
Another area which the government is supporting local businesses involves ensuring Singapore's rules and regulations keep pace with a changing business environment, Chee said.
"Our rules must also evolve over time. We cannot use the old set of rules because we are dealing with a changed world and a new set of challenges.
"And this is why we need to take a look at how our government policies, rules and regulations can help to support this new pace of working, new ventures and entrepreneurship."
Contextualising the IMC's work, Chee said that the committee's rules review exercises are intended to improve efficiency, cut red tape, take on board new ideas from the industry, and in so doing, help companies save time, save costs and save manpower.
He also announced two regulatory changes at the conference.
The first will simplify the regulatory process for the conversion of commercial spaces to medical clinics.
After the changes kick in, operators will no longer need to submit a change of use application to the Urban Redevelopment Authority (URA) if prior approval has already been obtain from the Ministry of Health for the proposed clinic and the building’s total clinic space does not exceed 3,000 square metres or 20 per cent of the total commercial gross floor area.
The second change will make it easier for businesses within Changi Airport Development to switch between different commercial uses.
For businesses at the airport, URA's approval will not be required when switching between commercial uses — within approved commercial units in the airport — if approval from the Civil Aviation Authority of Singapore has been obtained and other conditions are met.
Both measures will reduce double handling, he said, adding that it will also reduce the waiting time and effort needed by business applicants, and the fees involved.
According to the minister, the changes, once implemented, can save an applicant $500 and two weeks of waiting time for each application.
He recognised that these changes may not appear "major", benefitting a small, targeted group of businesses each time.
"But I think what is most important is the mindset," Chee said, adding that the broader objective was to foster a more pro-business mindset across government agencies and public services officers.
This, he said, involves thinking about how calculated risks can be taken, so as to help businesses operate more efficiently and productively.
"The challenges that we face are real, but so are the opportunities.
"The Government will continue and we are committed to working with all of you to help our business community, especially our SMEs, to navigate this new landscape, to grow new partnerships and to achieve the next bound of growth," Chee added.
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