Bao Te: Supportive Policies for Restaurants and E-commerce Transformation in Singapore During the Epidemic

Release time:2020-04-16Author: Bao Te

Since the beginning of 2020, the outbreak of coronavirus pandemic happened in many countries has not only posed a huge threat to public health, but also had a huge impact on the economic operation, especially the service industry represented by the catering industry. How to alleviate the operational and financial difficulties brought by the reduction or even suspension of passenger flow in the catering industry during the epidemic period, lead enterprises out of the immediate plight, and stabilize employment have become important issues lying ahead national and regional governments.In this regard, Singapore government and the business community mainly focus on two aspects to improve the business situation of catering industry’s practitioners, so as to stabilize employment. The first is to reduce the operating costs on physical stores. The government implements supportive policies through offering subsidy. At the same time, many owners of supermarkets and shopping malls also give profits to restaurants by changing their tenancies. The second is to encourage restaurants to offer takeout service through online platforms.Generally speaking, the support policies for the catering industry have played an important role in helping society and economy to overcome the difficulties and step out of them. It also reflects the significant contribution of mobile industries represented by Internet/ Internet of things and related new infrastructure construction to the stability of economy. Governments, industrial organizations and commercial organizations all over the country can have reference and enlightenment through the experience of Singapore.