Singapore : The Government will continue its push to help local enterprises and workers adapt to changing economic conditions, embrace technology and update skills, said Manpower Minister Josephine Teo on Thursday (May 10) in her ministry’s addendum to President Halimah Yacob’s address in Parliament.
As such, MOM is extending the national upskilling initiative SkillsFuture to businesses with SkillsFuture for Enterprises (SFE). The programme will focus on helping businesses make human capital development a key part of their corporate capabilities, to better support internationalization and growth.
This includes putting in place human resources systems, structures and processes to tap on various human capital development schemes as well as transform existing practices to enable better staff training and development. MOM said that more details on SFE will be available later this year.
In addition, MOM will also scale up the Lean Enterprise Development Scheme to support the implementation of Industry Transformation Maps for “more pervasive productivity improvements and innovation”, especially among small- and medium-sized enterprises (SMEs).
To help enterprises innovate and grow, MTI will strengthen the linkages between the Research, Innovation and Enterprise (RIE) 2020 Plan and other industry development plans.
Enterprise Singapore (ESG), the brand new entity formed by the merger of IE Singapore and Spring Singapore, will also help local firms grow, transform and internationalize.
For instance, SMEs looking to upgrade their capabilities can expect better access to assistance programmes, while more customized support will be available for growth-oriented enterprises hoping to deepen their innovative capacities.
Future-Proof the Local Workforce
Shifting the focus to workers, Mrs Teo reiterated the ministry’s commitment to invest in and future-proof workers through re-skilling and digitizing employment services. It will continue to push current programmes such as the Place-and-Train schemes, Professional Conversion Programme and Career Trial.
For MTI, the priorities ahead will be on helping workers “to be digitally confident” so that they have the skills and capabilities to take advantage of opportunities in the future economy, said Mr Chan.
Singapore also needs to “remain open to talent from around the world” that complements the local workforce and raises Singapore’s competitiveness, especially in new growth areas, he added.
For one, linkages to global innovation hubs will be strengthened through the Global Innovation Alliance – an initiative announced during last year’s Budget that allows Singaporeans to gain overseas experience, build networks, and collaborate with their counterparts in other innovative cities.
As a “small city-state with no direct hinterland”, Mr Chan said Singapore needs to have “deep connections with the rest of the world”.
Despite the recent rise in “protectionist and nativist attitudes towards trade and investment”, he said Singapore will remain “an open economy, with a pro-business, pro-competition, and pro-innovation environment”.
“We cannot close ourselves off,” he said in the addendum which addresses the theme of building a vibrant economy with more opportunities for workers, identified in the President’s address.
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