Over $55 million has been set aside by Enterprise Singapore (ESG) to help local agriculture and aquaculture companies grow. The grant will be used to boost their innovation capabilities, so they can work towards resource-efficient and high-yielding farming solutions.
Senior Minister of State for Trade and Industry Koh Poh Koon told reporters yesterday that the $55 million grant complements Singapore's "30 by 30" goal - to cover 30 per cent of its nutritional needs by 2030 through local production.
"While there is a separate pot of funding for the 30 by 30 (target), the idea is to give added support to existing players in the market so that they can innovate and ramp up their capabilities quicker. In some ways, (it is) to provide better food resilience during the Covid-19 crisis and therefore make use of this crisis to hasten our 30 by 30 target," he said.
Read more at Straits Times.