Speech by Minister of State for Trade and Industry Alvin Tan at SBF's Jobs Skills Integrator for Wholesale Trade Event

Mr Mark Lee, Vice Chairman and Honorary Treasurer, Singapore Business Federation (SBF)
Mr Kok Ping Soon, Chief Executive Officer, SBF
Ms Dilys Boey, Chief Executive, Workforce Singapore
Members of our trade associations, friends, partners, and all

Introduction

1.          Good morning. It is a pleasure to join you today.

2.           Building off Mr Mark Lee’s speech where he mentioned three ‘T’s – “Turmoil”, “Trade”, and “Technology” – what I thought was very important for us is also three ‘T’s. First, “Trust”; second, “Train and Transform”; and third “Thrive”. These are very important responses to the uncertain world that is unfolding before our very eyes.

3.          We are all aware of what is happening in the Middle East. Overnight we saw the US’ initiations of investigations under Section 301 into different countries, including Singapore. Singapore can play a very important role in ensuring trust and transparency, and in this regard to train and transform, which is what the Jobs Skills Integrator for Wholesale Trade (JSIT-WST) Sector is about.

4.          This is timely, because I launched the JSIT-WST back in August 2024. It is a full circle for all of us.

5.          I want to speak about three things: what is happening in the world right now, why we need to transform and train, and how we are doing it together.

WHAT’S HAPPENING – Sailing Through Rough Seas

6.          I had already mentioned that the current Middle East turmoil is affecting all of us, our companies, our workers, and our people. When routes through the Red Sea or the Straits of Hormuz are disrupted, our ships have to take the long way around the Cape of Good Hope. This means higher costs, longer wait times, and messy schedules.

7.          For our Wholesale Trade (WST) sector – which contributes about 20% of our nominal GDP and involves over 50,000 firms – these storms break supply chains and change prices overnight. Whether you trade in commodities, industrial goods, or consumer products, you are feeling the spray from these waves.

8.          At the same time, the “weather” is changing. The rapid rise of Generative AI and the push for sustainability are like powerful new currents. These changes are moving faster and are more unpredictable than ever before. It is not just the size of the waves that is challenging, but how fast they are coming at us. Which brings me to my second point:

WHY DO WE NEED TO TRANSFORM AND TRAIN? – The Strength of the Crew

9.          In a storm, the quality of the ship matters. To stay competitive, we must continually upgrade the ship, through digitalisation, automation and decarbonisation. As a small and open economy, Singapore is a small ship in a very large ocean. We feel every swell early and acutely.

10.      You, the wholesale traders, are the “navigators” of our economy. You sit right at the intersection of supply chain shocks and new technology. This makes you vulnerable, but it also means you are the first to see the new horizons.

11.      This leads us to the second part of today’s theme: “Empowering Your Workforce to Thrive Through Change.” When the waters get unpredictable, your best defence is a crew that can adapt.

12.      A high-tech ship is useless if the crew doesn’t know how to use the new navigation tools. We need to help our workers learn new skills as their roles evolve. If we don’t train our “sailors” now, our fleet will be left behind. Which brings me to my final point:

HOW ARE WE TRANSFORMING? – Upgrading the Fleet

13.      This is where the JSIT-WST comes in. Think of this programme as our “training deck”. When we started in August 2024, our goal was to bridge the gap between training and real-world opportunities, especially for mid-career talents.

14.      We are seeing real progress. To date, the programme has supported 952 companies, addressed 1,162 jobs, and helped train about 650 workers.

15.      But we must aim higher. By March 2027, we want to engage more than 1,700 companies, address 1,200 jobs, and re-skill or up-skill 1,600 workers.

16.      We have seen success stories like Jickson Corporation. They used AI platforms from Singapore-based firms JobKred and JobTech to give their crew new charts – clear job roles and career paths that were previously absent.

17.      Look at Ms Loh Cheng Cheng from AgroCorp. After a break to care for her children, she joined the WSG Career Conversion Programme. Today, she is a key part of Agrocorp’s finance team, deepening her technical expertise. She is a great example of a skilled sailor who has adapted to a new role and is thriving.

18.      To deepen this support, SBF is signing an MOU today to offer more targeted help. We are launching new “navigation courses” in GenAI, trade compliance, and data analytics with partners like NUS and NTUC LearningHub. We are also working with “Lead Firms” like ST Logistics and Sheng Shiong to share best practices across the entire fleet.

Conclusion

19.      Today, we will also present the WSG-SBF Wholesale Trade Sector Workforce Transformation Award to two outstanding companies. They show how investing in your crew early helps you respond faster to changing tides.

20.      Thank you very much and I look forward to the session.