Oral reply to PQs on investments brought in by EDB

Questions

Ms Foo Mee Har: To ask the Minister for Trade and Industry (a) what types of jobs have been created by new investments brought in by EDB in the last three years; (b) how have the profiles of new investments changed and what are the anticipated trends in this area; and (c) how well is the local workforce positioned to benefit from the new investments in terms of skills and experience.

Mr Sharael Taha: To ask the Minister for Trade and Industry (a) how has the profile of investments in Singapore changed over the past ten years; (b) given that electronics and biomedical manufacturing are the top two sources of investments in 2021, how well is our local workforce prepared for this growth; and (c) how can we continue to attract local talent in the electronics and manufacturing industries.

Oral Answer (to be attributed to the Minister of State for Trade and Industry Alvin Tan)

1. EDB attracts investments in a wide range of sectors including manufacturing, professional services, and infocommunications & media. Over the years, the profile of investments has moved towards higher value-added and innovation-focused activities, including in the semiconductor and biomedical manufacturing industries. For example, best-in-class companies such as GlobalFoundries, Arkema and Sanofi have chosen Singapore for their new manufacturing investments. We expect to attract more investments in advanced manufacturing, the digital economy and the green economy in the coming years.

2. We attract these investments so that Singaporeans can benefit from the jobs that are created, and to secure our economic future and resilience. Each investment strengthens our ecosystem and competitiveness, creates more opportunities for firms to collaborate with one another (including between our SMEs and MNCs), and make Singapore more relevant to the world.

3. Over the last three years, EDB attracted investments which created about 54,000 jobs across functions such as production, digital, business services and innovation. These include jobs such as Software Engineers, Data Scientists, Lab Technicians and Consultants. The majority of these are good paying jobs which are filled by locals.

4. One reason why companies choose Singapore is our talent pool of local and complementary global talent. The Government and Institutes of Higher Learning (IHLs) work closely with the industry and the Labour Movement to equip our local workforce with relevant skills which companies need.  By doing so, we can respond swiftly to the changing global economic landscape and opportunities. For example, Workforce Singapore’s Career Conversion Programmes help locals to take on jobs in growth areas, as well as in redesigned job roles due to technological changes.

The Government also works with larger companies to become “Queen Bees” by providing training opportunities for the whole ecosystem. For example, Bosch Rexroth partnered with Singapore Polytechnic, Singapore-German Chamber of Industry and Commerce, SSG and JTC to establish the Bosch Rexroth Regional Training Centre, which aims to train 1,500 workers in Industry 4.0 methods and technologies over the next five years. Last year, Siemens also expanded their Advance Manufacturing Transformation Centre (AMTC), in partnership with JTC, SSG and other partners. AMTC will showcase Siemens’ digital and industrial software, provide R&D platforms and resources for SMEs, expand training facilities and curricula to help upskill local and regional talent in Industry 4.0 capabilities.

5. Besides training, MTI has also been working with industry players and IHLs to make engineering and manufacturing careers more attractive to locals, as part of our Manufacturing 2030 strategy, and more details will be announced in due course.

6. Even as we continue to grow our local timber, employers have provided feedback that they find it increasingly challenging to access the talent they require, especially in areas where there are skill shortages. This is a critical challenge we must overcome together, given the slowing growth in our local workforce, and the aggressive competition posed by many cities and technology hubs for talent from all around the world.  To stay competitive and resilient, Singapore must remain open to complementary talent.  The Government will continue to calibrate changes in our foreign manpower policies to allow companies to access the talent and skills they need to grow our economy, and also to ensure that these growth opportunities will create even better jobs for Singaporeans.