Singapore to Review Support for Vulnerable Firms Amid Outbreak

Singapore will review how it can further support companies after a new wave of Covid-19 infections prompted authorities to increase restrictions that curbed business activity and the movement of people.

While some firms have not been required to cease operations under the new rules, they have been impacted by the decline in foot traffic and the scaling back of activity levels, Finance Minister Lawrence Wong said in a Facebook post Saturday.

“We will monitor the situation and review how we can further support viable but vulnerable businesses during this period of heightened alert virus rules,” he said.

The Southeast Asian nation recently re-entered lockdown-like conditions it last imposed a year ago, banning dining-in and limiting gathering sizes to two people in an effort to slow transmissions. The Ministry of Transport announced an additional S$27 million ($20.3 million) of relief for taxi and private-hire car drivers. The government also pledged increased support to food and beverage outlets following the tightened measures.

©2021 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.