Singapore may create national supply chain disruption task force to help businesses

KPMG said the task force can focus on offering support for vulnerable sectors.

The Singapore government can create a supply chain disruption task force that can help businesses in the more vulnerable sectors such as manufacturing, KPMG said.

“The taskforce can focus its work on the more vulnerable manufacturing, construction, and logistics industries to enable them to achieve faster and more effective responses to disruptions,” KPMG said in a statement.

The task force can provide support for smaller businesses to give advice on rising fuel prices and energy costs.

KPMG said the task force may also offer grants and support schemes to small businesses and suppliers to pursue greener supply chains. 

There could also be grants or bonds that will back businesses caught in supply challenges, cash disbalances, and those who do not have enough financial resources.

KPMG said firms are searching for ways to invest in digital solutions that will make their workflow efficient and sustainable.

The advisory firm also proposed the following incentives:

Enhanced deductibility of expenses incurred on supply chain digitisation and transformation (i.e. deductions in excess of actual expenditure incurred)  Consulting grants for businesses embarking upon supply chain transformation and digitisation.

Special taxation regime and/or financing for companies involved in investment, development and trade of renewable energy, hydrogen (or other green alternatives) and carbon credit.