BEIJING — Singapore’s Media Development Authority is to add S$20 million ($15.6 million) to the incentive schemes it offers the biz, with a view to raising productivity.
The MDA has been streamlining its grant schemes from 46 to five, and the new funding would go into improving the “value added” per worker.
The MDA said in a statement that $9.4 million of the new money will go into its Talent Assistance grant scheme to upgrade skills with the remainder going into Enterprise Assistance for process improvements.
“In the media sector, the way to productivity is through ideas. We have to keep developing better ideas because better ideas mean more audiences and more value derived from the same unit of work,” said MDA CEO Aubeck Kam.
“We need to help companies, enterprises and individuals grow competitively in the long term by proceeding on this front,” he said.