SGTech is encouraged by the ongoing and reinforced implementation of SkillsFuture. The organization believes that the S$4000 top-up of the credits will effectively incentivise mid-career workers to update their skills and advance in their careers.
This initiative is seen as empowering workers to pursue more rewarding and high-paying career opportunities. This development aligns with SGTech’s Career Conversion Programme, targeting mid-career professionals, managers, executives, and technicians for skills conversion, facilitating their transition into new occupations or sectors with promising prospects and advancement opportunities.
In addition, SGTech expresses satisfaction in seeing the government support talent capabilities in their AI development initiatives.
While SGTech welcomes these developments, the organization believes that to improve employability, it is crucial to guide SMEs on how they can hire and develop talents based on skills, not just traditional qualifications.
SGTech advocates for trade associations and chambers to act as connectors, creating guides, spreading awareness, and setting up programs to make this happen, furthering the government’s investment.
SGTech also suggests that agencies like Infocomm Media Development Authority, SkillsFuture Singapore, and others collaborate with the private sector in establishing standards and giving recognition for learning that happens on the job.
The organization proposes forming a public-private action task force to determine these standards and incorporate new tech skill sets through a national skills taxonomy.
On the topic of Green Transition for Sustainability, SGTech expresses pleasure in hearing about the government’s determination to help businesses in their green transition.
The introduction of a New Tax Credit is seen as a step to bolster the green transition for businesses, incentivising environmentally sustainable practices and investments.
This initiative aligns with the broader goals outlined in the Industry Transformation Maps, emphasizing excellent connectivity and fostering a reliable and stable environment for businesses to thrive.
SGTech is encouraged by the targeting of SME growth through green practices, and the enhanced support under the EFS ensures that SMEs will have access to the necessary capital to implement sustainable initiatives and adapt to evolving market demands.
Recognizing the importance of energy efficiency in mitigating climate change, the provision of Energy Efficiency Grants serves to assist businesses in meeting green standards and reducing their carbon footprint.
Furthermore, extending grants to additional sectors such as manufacturing and construction reflects a commitment to fostering sustainability across diverse industries, thus amplifying the impact of green initiatives on a broader scale.
While supporting these initiatives for a greener economy, SGTech believes it will be necessary to work together with industry partners and relevant government agencies to take further action in establishing industry sustainability reporting standards.
This includes creating a national directory of sustainability regulations, guidelines, standards, and certifications accessible and consistent across all industries.
On the matter of Digital Trust, SGTech recognises the establishment of the new National Cybersecurity Command Centre at the Punggol Digital District as an imperative step towards coordinating and bolstering cyber defense operations against cyber threats.
However, SGTech suggests that more can be done to prepare Singapore in the face of increasingly sophisticated cyber threats. The organization believes that the implementation of a Chief Trust Officer should be a priority to build a comprehensive, resilient, and secure digital environment.
SGTech proposes working together with industry partners and relevant government agencies to draft a detailed plan, considering more targeted investments, partnerships with the private sector, and initiatives to raise awareness about cybersecurity best practices among citizens and businesses.
SGTech looks forward to collaborating with the relevant agencies to learn more about these programs and provide industry input on the key technology growth trends Singapore could redouble efforts on.
