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Supply Chain Risk

Low risk businesses reopening after virus lockdown

Singapore reopened 75% of its economy Tuesday, as part of a three-phase controlled approach to end its anti-coronavirus lockdown since early April.

Finance, electronics manufacturing and logistics resumed operations with strict safety requirements after a two-month closure to prevent the spread of the virus.

But most retail shops, personal services, dining at restaurants and social gatherings are still banned.

Schools will reopen in stages throughout June.

Primary school, secondary school and pre-university students will return to school in two phases, with priority given to students from graduating cohorts and students who need additional support.

The affluent city-state has over 35,000 cases, one of the highest in Asia.

Over 90%of cases involved foreign workers living in crowded dormitories.

The government has said it will only lift further restrictions if infections remain low.

Prime Minister Lee Hsien Loong warned in a Facebook post Monday that dealing with COVID-19, the illness caused by the virus, will be “a marathon, not a sprint” and that things may not return to normal even if a vaccine has been found.

The pandemic has dealt a huge blow to Singapore’s trade-reliant economy, which is expected to shrink between 4% and 7% this year.

 

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