Singapore’s investment in ICT to benefit SMEs
The Singapore government has set aside S$3.8 billion (US$2.73 billion) for ICT expenditure in FY2022, with 80% of these contracts open to SMEs.
SMEs will be able to secure these contracts through streamlined procurement efforts, which will improve their access to government ICT tender opportunities, said GovTech, a statutory board of the Government of Singapore.
As more cloud-based services and smaller system projects are put out, barriers of entry for SMEs are lowered as this would allow suppliers with a lower financial grading to bid, it highlighted.
The government’s spending on ICT this year marks an almost 10% rise year-on-year, and the bulk of it — S$2.7 billion (US$1.94 billion) — will be channelled towards transforming government digital services and re-engineering digital government infrastructure.
Altogether, it intends to embark on some 250 projects used by citizens and businesses.
Surveys conducted in 2020 also reveal that citizen and business satisfaction with government digital services remained high, with 85% and 76% of respondents respectively indicating that they were very or extremely satisfied in the G2C (government-to-citizens) and G2B (government-to-business) services.