SINGAPORE: The Wuhan coronavirus outbreak will impact Singapore’s economy, with tourism-related sectors being of “immediate concern,” said Minister for Trade and Industry Chan Chun Sing on Monday (Jan 27).
“From MTI's (Ministry of Trade and Industry‘s) perspective, we certainly expect there to be an impact on our economy, business and consumer confidence this year, especially as the situation is expected to persist for some time,” said Mr Chan at a multi-agency press conference.
AdvertisementAdvertisementThe tourism-related sectors. including travel agents, hospitality industries, F&B, retail and transport are of “immediate concern”, Mr Chan added.
But as with previous episodes such as the SARS (severe acute respiratory syndrome) outbreak in 2003, there will be support measures to help businesses and enterprises, he said. These could include reducing business costs, alleviating their cash flows as well as retention of workers, said Mr Chan.
“I would like to assure Singaporeans that the Government has the means and we stand ready to work with our TACs (Trade Associations and Chambers), Ministry of Manpower (MOM), and our labour movement, NTUC, to make sure that we have the support measures for enterprises and workers,” he stated.
The Singapore Tourism Board has also been in contact with the TACs to manage the impact and to assess the help needed, Mr Chan explained. “Our priority now is to work closely with MOM and NTUC to mitigate the fallout and support our workers affected to preserve their livelihoods,” he added.
AdvertisementAdvertisementSaid Mr Chan: “At this point in time, I would also like to encourage our enterprises to refresh their business continuity plans, if they have not already done so.
“For the longer term, we will press on with our industry and market diversification plans to strengthen our resilience as an economic system.”
Singapore has so far confirmed four cases of the Wuhan coronavirus - the fourth was announced early Sunday morning.
[h=3]READ: Wuhan virus: Increased border checks, leave of absence among new counter-measures[/h][h=3]READ: Authorities working with China to bring home Singaporeans in Wuhan[/h]The first case of the novel coronavirus in Singapore was announced on Thursday, while two cases were confirmed on Friday. Of the 92 suspected cases, 46 have tested negative for the new coronavirus, which originated in Wuhan, China. Test results for the remaining 42 cases are pending.
The Ministry of Health (MOH) said there were no new confirmed cases of the Wuhan virus in Singapore as of noon on Sunday.
[h=3]MORE: Our coverage on the Wuhan virus and its developments[/h]Subscribe to our Telegram channel for the latest updates on the Wuhan virus outbreak: https://cna.asia/telegram
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