The Singapore Government will step-up its efforts to support pump the aerospace, aviation and tourism sector deal with COVID 19 pandemic, Deputy Prime Minister Heng Swee Keat said in a ministerial statement on August 17.
Heng said these sectors need support due to their importance to the broader Singapore economy.
“Our strategy is to provide further support for these sectors, to retain core capabilities and position them for an eventual recovery. These sectors are important parts of our economy, and they are multipliers for other sectors.
“Singapore’s position as a global business node depends on our connectivity as an air hub. The Changi Air Hub and its adjacent industries contribute to over 5% of Singapore's GDP and employ more than 190,000 people. Tourism adds vibrancy to our retail and F&B sectors.”
An additional S$187 million will be put into the enhanced aviation support package - announced in March this year - so that it lasts until March 2021.
The scheme provides rebates on landing and parking charges, and rental relief for
airlines, ground handlers and cargo agents.
“This will provide cost relief for our airlines, ground handlers, cargo agents, and airport tenants. This package will also support our local carriers to regain our air connectivity to the world,” Heng said.