Singapore Budget Sops for Maritime
With a focus on improving maritime business sectors through a series of incentives to raise productivity, innovation, and internationalization the government of Singapore extended a number of its maritime incentives in its 2015 budget. "I will extend the Maritime Sector Incentive (MSI) which promotes the growth of Singapore as an International Maritime Centre," said Tharman Shanmugaratnam Deputy Prime Minister and Finance Minister in his 2015 budget speech on Monday. Shanmugaratnam stated that the plans were drawn out to extend the current maritime sector incentive (MSI) to accelerate the Singapore maritime sectors' growth. For instances, tax exemptions will be given to companies that qualified for the MSI.
Singapore's MPA to Introduce Widespread Development Initiatives
The Maritime & Port Authority of Singapore (MPA) to boost maritime research & development,
 productivity and manpower development. The new initiatives were announced by Mr Tharman Shanmugaratnam, Deputy Prime Minister and Minister for Finance, at the recent opening of the Sea Asia Exhibition and Conference, held in conjunction with the concurrant Singapore Maritime Week 2013. "Maritime is an important part of Singapore and contributes some 7% of Singapore's GDP. MPA is committed to working in partnership with the industry and institutes of higher learning (IHLs) in developing Maritime Singapore and are pleased to work with the industry and IHLs on the new initiatives and investments in maritime R&D, productivity and manpower development," said Mr Lam Yi Young, Chief Executive of MPA.
