Singapore's entire economy could resume operations by the end of June, the country's National Development Minister said on Thursday.
«We will decide by the middle of June, on whether we want to take the next step to move to Phase 2 and that means Phase 2 could happen before the end of June,» National Development Minister Lawrence Wong said at a multi-ministry task force media conference, noting that this depends on whether the community infection rate remains low and stable over the next two weeks.
Last week, the Ministry of Health (Singapore) announced a three-phased approach to resume business operations, following the end of the «circuit breaker.» Phase 1, which begins on Tuesday, could see 75 percent of the economy resuming normal operations, Wong said.
Financial Activities to Resume
Activities that would be allowed to resume operations in Phase 2 include retail shops, consumer services, and dining in at food and beverage outlets, subject to a cap of five people per group. Sports facilities would also be allowed to reopen, and social gatherings would be permitted if limited to five persons.
While the Monetary Authority of Singapore said it would allow customer service locations of financial institutions to reopen more locations to process essential customer transactions, it noted that telecommuting would still remain the default.
Citi Extends Remote Work
Citi Singapore said in a statement on Thursday that its staff will continue working from home until July, citing the health and safety of its staff and clients. Currently, 88 percent of its workforce are working remotely, and the bank plans to maintain the split until July.
«There is no urgency to bring them back on-site at the end of the Circuit Breaker. I see benefits in being deliberately slow and measured in our return to ensure their safety and wellbeing,» Amol Gupte, head of ASEAN and Citi country officer for Singapore, said in the statement.
