Mr Lee Yi Shyan at the Memorandum of Understanding Signing Ceremony Between Singapore Technologies Engineering and the Singapore Workforce Development Agency

SPEECH BY MR LEE YI SHYAN, SENIOR MINISTER OF STATE FOR TRADE & INDUSTRY AND NATIONAL DEVELOPMENT, AT THE MEMORANDUM OF UNDERSTANDING SIGNING CEREMONY BETWEEN SINGAPORE TECHNOLOGIES ENGINEERING AND THE SINGAPORE WORKFORCE DEVELOPMENT AGENCY AT SINGAPORE TECHNOLOGIES MARINE ON 15 JULY 2015, 10.15AM

Mr Lee Fook Sun, Deputy CEO & President (Defence Business), ST Engineering

Mr Vincent Chong, Deputy CEO (Corporate Development), ST Engineering

Mr Ng Cher Pong, Chief Executive, Singapore Workforce Development Agency

Distinguished guests

Ladies and gentlemen

Introduction

Good morning. It is my pleasure to witness the signing of this Memorandum of Understanding (MOU) between Singapore Technologies Engineering (ST Engineering) and the Singapore Workforce Development Agency (WDA) to collaborate on SkillsFuture initiatives.

With a GDP per capita of US$56,2841

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, Singapore is now competing in the league of advanced economies. Our firms, both large and small, face open and global competition. Most of the advanced economies we compete against have access to large talent pools by virtue of their population size. Their mega cities on the other hand have been constantly improving themselves to lure and retain international talent in order to stay ahead of global competition. Recently, we learnt of Shanghai’s vision to be a “globally influential technological innovation hub”. Various competitiveness studies, including those done by IMD, WEF and the World Bank have also ranked “Quality of Workforce or Human resource” as a key determinant of an economy’s competitiveness.

Given the constraints on workforce growth that we face as a small nation, upskilling our workforce and raising productivity become the only way to achieve higher wages and better lives for Singaporeans. Many years ago, our first Prime Minister said of the SAF: “What we lack in quantity, we shall make it up in quality”. I think the same can be said of our economic workforce.

The introduction of the SkillsFuture initiative is therefore a strategic re-positioning of our economy. We have to attempt doing something even other advanced economies are finding hard to do: to find a way for our workforce to stay current and even ahead of time, always relevant to the new jobs created in existing and new industries.

For SkillsFuture initiative to succeed, it has to be a nationwide effort. Our workforce, young and old, has to embrace life-long learning. The aim is to provide Singaporeans with opportunities to develop their fullest potential throughout life, regardless of their starting points. To achieve the goals of SkillsFuture, everyone has a part to play. The government can provide the learning infrastructure, our employers can actively help shape the contents of skills training, and our employees must want to learn and re-learn new skills.

ST Engineering’s Involvement in SkillsFuture and Collaboration with WDA

ST Engineering is a home-grown technology company. Over the decades, it has developed and groomed many technologists and engineers. As ST engineering competes in the global market, it knows better than anyone the importance of staying ahead in R&D and human resource development. ST Engineering is a respected player in its field because of its strong engineering capabilities. The company’s greatest asset is its human resource.

SkillsFuture Earn and Learn Programme

Today’s MOU signing signifies ST Engineering’s re-commitment to HR development under the SkillsFuture framework. I am especially heartened to note that under the MOU, ST Engineering will place 100 employees on the SkillsFuture Earn and Learn Programme over the next three years. Earn and Learn is a work-study progamme that allows trainees to gain invaluable hands-on experience at the workplace, while obtaining relevant qualifications to their skill sets.

The 100 placements will be done across various business operations including Aerospace, Infocomm Technology, Logistics, Marine & Offshore Engineering, as well as Precision Engineering. I understand that the Earn and Learn Programme will be rolled out for these sectors progressively. For a start, the first batch of trainees for Marine & Offshore Engineering will commence their Specialist Diploma in Marine Production with Ngee Ann Polytechnic (NP) in October 2015.

One of the participants is Ms Lee Jia Hui who completed her Diploma in Marine and Offshore Technology from Ngee Ann Polytechnic in May last year. Under the Earn and Learn programme, she will undergo structured on-the-job training (OJT) in crucial aspects of the marine industry, such as production, commissioning and quality assurance. At the same time, Jia Hui will also pursue a Specialist Diploma in Marine Production to deepen her skills.

Another participant is Muhammad Saifullah Bin Mohd Sultan who has a Diploma in Marine Engineering from Singapore Polytechnic. Under the structured Earn and Learn Programme, Muhammad Saifullah will learn Marine Production Process and Yard Layout Design. He hopes to contribute to ST Marine by improving the quality, productivity and efficiency of his work.

In addition to structured training, Jia Hui and Saifullah will each be assigned a mentor in ST Marine to guide them in their career development. They could progress from Assistant Engineers to Senior Engineers in five to seven years’ time upon good performance.

SkillsFuture Study Awards and SkillsFuture Fellowships

Besides providing a structured learning environment for fresh hires, ST Engineering will also support experienced employees in acquiring deep, specialised skills through the SkillsFuture Study Awards and the SkillsFuture Fellowships. These two initiatives allow Singaporeans to leverage lifelong learning opportunities to chart their own journey in life and gain fulfilment in their careers.

ST Engineering will nominate deserving employees for the SkillsFuture Study Awards and SkillsFuture Fellowships when open. Successful nominees for the SkillsFuture Study Awards and SkillsFuture Fellowships can receive a bond-free monetary award of up to $5,000 and $10,000 respectively.

Conclusion

We have just started to embark on Skillsfuture initiatives. We need companies of every sector to come forward and take the lead, just as ST Engineering has done, to champion the cause of Skillsfuture. As our workforce growth is slowing, the source of our future growth will come from a more skilled workforce. Whether our economic restructuring can become successful will depend on how well we adjust, adapt and acquire new skills. Thank you.

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2014 GDP per capita at current market prices. Source: Singstat.