Singapore has pledged to add 20,000 digital roles to its infocomm media (ICM) sector following committed investments from the Economic Development Board that were secured in 2019 and 2020.
"As more sectors embark on digitalisation, the economy-wide demand for digital tech talent is set to increase significantly. The sector's growth also translates into attractive careers for Singaporeans," said minister for Communications and Information, Josephine Teo, as reported by The Business Times.
"The sector will be vital in building up Singapore's digital innovation capabilities, and creating sophisticated digital products and services that have the potential to reach global markets," added Teo, who was speaking at an event in Singapore. "It will also be a growth multiplier for the broader economy."
She also mentioned several key strategies that could be implemented to support industry in building a digital economy.
One strategy was enhancing enterprises’ digital capabilities, including shaping high-performing firms as “digital leaders”, while another was signing digital economy agreements to enhance connectivity with partners abroad.
Teo pledged to keep Singapore’s digital infrastructure “secured and trusted” and added that: "We will redouble efforts to help more Singaporeans be active participants in our digital workforce”.
Developing a dynamic infrastructure
How to implement holistic changes to support distributed workers
In May, the head of Singapore’s central bank warned that the country must continue to depend on foreign workers to fill roles in its tech sector over the next few years. Managing director Ravi Menon said that of the estimated 25,000 tech workers in Singapore’s financial sector, domestic workers make up just over a third of the workforce, highlighting that many of the required tech skills are in short supply locally.
Furthermore, at the end of last month, the UK and Singapore launched digital trade negotiations that could remove barriers to trade and allow UK exporters to expand into a new market. The negotiations will focus on securing open digital markets for exporters, ensuring free and trusted cross-border data flows, and promoting digital trading systems like digital customs and border procedures.
