Build up local talent to secure Singapore’s next stage of growth
PUBLISHED ON 04 Mar 2019
Singapore has to build up a pipeline of local talent to navigate challenges and remain connected with the world, in order to prepare for its next stage of growth, said Minister for Trade and Industry Mr Chan Chun Sing.
Speaking during the Committee of Supply debate, Mr Chan acknowledged that local enterprises have found it difficult to internationalise due to the lack of talent for their overseas operations.
As such, the Global Ready Talent Programme which was announced during Budget 2019, will help companies fund overseas internships and management associate programmes. “For Singapore to thrive, we will continue to develop our local talent, and welcome global talent, especially those with high-end digital and engineering skills, to complement our local workforce,” he added.
Mr Chan also shared that Singapore has plans to upgrade its trade pacts to secure better access to overseas markets. “This ensures the diversification of our markets and supply chains, to not overly rely on any one particular market," he explained.
Separately, Senior Minister of State for Trade and Industry Dr Koh Poh Koon announced that Singapore will be developing a new agri-technology sector and open an 18ha Agri-Food Innovation Park in Sungei Kadut.
Dr Koh also pointed out that Singapore has the potential to be a leader in urban agriculture and aquaculture technology. "Our good innovation climate, strong talent base, reputation for food safety and strategic location position us well to capture a slice of this industry, particularly in Asia," he added.

Giving an update on the ongoing industry information efforts, Dr Koh said that the Government has embarked on the next phase to build and deepen linkages between complementary industries. He also encouraged companies to share their productivity gains with their workers through higher salaries.
Double down on efforts to help businesses grow
Meanwhile, Senior Minister of State for Trade and Industry Mr Chee Hong Tat said the Government will help Singapore businesses expand their operations locally and abroad.
He spoke about the new Scale-up SG programme which will groom high-potential enterprises into “future global champions” by developing customised long-term plans to their growth priorities.
“Through Scale-up SG, the company will receive targeted support to develop a commercially viable product prototype, as well as to shortlist and validate acquisition targets,” he explained.
Mr Chee added, “In this way, we can sustain our scale-up efforts and grow more Singapore companies into globally competitive enterprises.”