New targets for Singapore’s manufacturing
When we think of Singapore, we imagine a dynamic and cutting-edge hub, where technology, finance and services are the driving force for the entire economy. But against all odds, the most developed sector is manufacturing, which in 2020 contributed 20.5% of the national GDP. To make this industry more "attractive", Singapore launches "Manufacturing 2030", an economic plan that aims at creating an innovative and unique local production district to increase the value of manufacturing by 50% by 2030. As stated by the Minister of Commerce and Industry Gam Kim Yong, Singapore will simultaneously launch the M2030 Careers initiative, with the aim of attracting skilled talent, ensuring good job opportunities in the manufacturing sector. The initiative will see collaboration among companies, Polytechnics and technical institutes to identify young graduates in engineering or technical education with relevant skills to industry. At the same time, companies will be able to offer career paths in line with technological changes, thanks to the creation of a manual of best practices to support employers. Finally, the Singapore Precision Engineering and Technology Association will identify companies where to build the first paths of talent attraction, field training and career development.
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