We refer to The Business Times editorial, "ITM programme needs to improve measurability and accountability", dated 5 May 2017.
All the Industry Transformation Maps (ITMs) have tangible indicators and targets to measure the effectiveness of the ITM strategies. These tangible outcomes are supported by an overall vision and specific growth strategies in four key areas:
- Innovation - strategies to leverage research and development to develop new products and services.
- Productivity - supporting companies, especially small and medium enterprises (SMEs) to move to higher value-added activities and raise operational efficiency.
- Internationalisation - supporting companies in expanding to overseas markets.
- Jobs and skills - investing in our people to equip them with industry-relevant skills to take on new jobs that will emerge and support the shift to greater value creation.
For example, the collective strategies and initiatives under the Hotel ITM aims to create 200 new PMET jobs annually from now until 2020. This is in line with the end vision of transforming the industry into one that achieves sustainable growth and creates good jobs for Singaporeans.
Similarly, the Retail ITM outlines the goal of achieving an average annual productivity growth rate of 1.0% from now till 2020 without increasing the sector's overall reliance on manpower.
The vision, growth opportunities and strategies outlined in each ITM are the product of close consultation with stakeholders including enterprises, workers, trade associations and unions. The shared vision will help rally a common sense of purpose, even as the specific initiatives bring concrete benefits to companies and workers alike. Beyond immediate quantitative targets and indicators, it will be the ability of all parties to work together in partnership that will determine the success of our industry and economic transformation.
Please publish the above letter in full. Thank you.
Cindy Keng (Mrs)
Director, Corporate Communications Division
Ministry of Trade and Industry