The plan came just a day after Minister for Trade and Industry Chan Chun Sing said that Singapore has to do more to compete for global talent. In a speech at a scholarship presentation ceremony, Chan pointed out that while Singapore needs to grow local talent, it needs to woo global talent as aggressively as other markets are doing.
SINGAPORE (Aug 5): The pilot plan unveiled on July 30 to help technology companies in Singapore hire tech talent from abroad signals a “fine-tuning” of the city state’s labour policy to address local talent shortage in specific tech fields, say economists. The programme will alleviate concerns over talent shortage for MNCs that want to set up shop in Singapore and help start-ups expand in the region.
“The reality is that Singapore lacks the local tech talent pool to grow the tech ecosystem. There are just not enough local experts in areas such as data science, cybersecurity or artificial intelligence (AI),” says Maybank Kim Eng senior economist Chua Hak Bin.
