• Latest
  • Trending
End goal is to create good jobs, says Liang Eng Hwa at pre-Budget roundtable

End goal is to create good jobs, says Liang Eng Hwa at pre-Budget roundtable

January 9, 2018
First shipment of Moderna vaccine for USFK to arrive Friday: sources

First shipment of Moderna vaccine for USFK to arrive Friday: sources

December 24, 2020
Why North Korea’s Mount Kumgang resort will be ‘envied by the world’

Why North Korea’s Mount Kumgang resort will be ‘envied by the world’

December 23, 2020
China & the West: the New Knowledge War

China & the West: the New Knowledge War

December 23, 2020
Zulkifli: COVID-19 vaccine is permissible

Zulkifli: COVID-19 vaccine is permissible

December 23, 2020
Bangkok schools closed for 12 days to contain outbreak

Bangkok schools closed for 12 days to contain outbreak

December 23, 2020
Hubble telescope gives closer look at rare asteroid worth $10,000,000,000,000,000,000

Hubble telescope gives closer look at rare asteroid worth $10,000,000,000,000,000,000

October 30, 2020
Swedish Defense Bill Extends Gripen, Adds New AEW Aircraft

Swedish Defense Bill Extends Gripen, Adds New AEW Aircraft

October 19, 2020
Bulgaria protests enter 100th consecutive day as demonstrators denounce widespread corruption

Bulgaria protests enter 100th consecutive day as demonstrators denounce widespread corruption

October 18, 2020
UK’ Sixth-Gen Fighter Jet Will Infuse £25 Billion, 20,000 Jobs Into The British Economy

UK’ Sixth-Gen Fighter Jet Will Infuse £25 Billion, 20,000 Jobs Into The British Economy

October 18, 2020
Japan may skip meeting with S. Korea and China

Japan may skip meeting with S. Korea and China

October 14, 2020
China’s human rights record slammed after UNHRC reelection

China’s human rights record slammed after UNHRC reelection

October 14, 2020
loyalists and reformists clash over Thailand’s monarchy and the ‘playboy’ Rama X

loyalists and reformists clash over Thailand’s monarchy and the ‘playboy’ Rama X

October 14, 2020
Wednesday, January 27, 2021
Sajja News
No Result
View All Result
  • Asia News
    • China
    • North Korea
  • World News
    • Africa
    • Canada
    • Europe
    • Latin America
    • Middle East
    • Russian Federation
    • United Kingdom
    • United States
  • National Security
    • Cyber Security
    • Military
    • Terrorism
      • Islamic State
    • Politics
      • Democracy
      • Free Speech
  • Business
    • Economy
    • Free Market
  • Science
    • Technology
  • Culture
    • Art
    • Books & Literature
    • Education
    • Family
    • Food & Drink
    • Health
    • History
    • Movies & TV
    • Music
    • Privacy
    • Religion
    • Travel
    • Women & Children
  • Sports
    • Auto Racing
    • Cycling
    • Golf
    • Olympics
    • Football
    • Tennis
    • Water Sports
  • Environment
    • Agriculture
    • Climate Change
    • Forests
    • Water & Oceans
    • Wildlife & Endangered Species
  • Asia News
    • China
    • North Korea
  • World News
    • Africa
    • Canada
    • Europe
    • Latin America
    • Middle East
    • Russian Federation
    • United Kingdom
    • United States
  • National Security
    • Cyber Security
    • Military
    • Terrorism
      • Islamic State
    • Politics
      • Democracy
      • Free Speech
  • Business
    • Economy
    • Free Market
  • Science
    • Technology
  • Culture
    • Art
    • Books & Literature
    • Education
    • Family
    • Food & Drink
    • Health
    • History
    • Movies & TV
    • Music
    • Privacy
    • Religion
    • Travel
    • Women & Children
  • Sports
    • Auto Racing
    • Cycling
    • Golf
    • Olympics
    • Football
    • Tennis
    • Water Sports
  • Environment
    • Agriculture
    • Climate Change
    • Forests
    • Water & Oceans
    • Wildlife & Endangered Species
No Result
View All Result
Sajja News
No Result
View All Result

End goal is to create good jobs, says Liang Eng Hwa at pre-Budget roundtable

January 9, 2018
in Business, Economy
0
Home Business
Post Views: 214

 

In developed economies of today, economic growth and activities are just a means to an end, which is to create good jobs, said Liang Eng Hwa, chairman of the Government Parliamentary Committee for Finance, Trade & Industry, on Tuesday (Jan 9).

In Singapore’s context, this means adopting a pro-business approach in order for these opportunities to take shape, he added.

Mr Liang was giving his keynote address at this year’s Institute of Singapore Chartered Accountants (ISCA) Pre-Budget Roundtable, where business and industry leaders gathered ahead of the Singapore Budget 2018 to discuss key issues based on the theme “Partnering for Business Growth and Job Creation”.

The five guiding topics for the forum were industry transformation maps (ITMs), digital economies, internationalisation, innovation, and jobs & skills.

Mr Liang said that rapid technological advancement will change the type, nature and location of future industries and jobs.

“Every economy is wrestling with the changing nature of jobs, and Singapore is no different,” he said.

To prepare the workforce for future disruptions, he pointed out how SkillsFuture is helping to equip adult learners with industry-relevant skills and prepare them to take on jobs.

He highlighted eight emerging areas identified: data analytics, finance, tech-related services, digital media, cybersecurity, entrepreneurship, advance manufacturing, and urban solutions.

He noted that to date, some 15 ITMs, which are tailored for the specific needs of each industry and coordinated by an economic agency, have been launched. The remaining eight will be launched progressively by March this year, making it a total of 23 ITMs which will cover 80 per cent of the economy, said Mr Liang.

But far from being a static plan, stakeholders will continue to refine initiatives progressively and even “course correct” as needed based on feedback or when external demand trends shift.

Businesses also need to continue to build digital capabilities to go to the next level and lift productivity, he said.

Many SMEs (small and medium-sized enterprises) have embarked on the digitalisation of their operations, he observed. For example, four out of the 10 ongoing digital transformation projects in the Precision Engineering sector are SMEs.

But there is certainly room for more SMEs to develop and grow their digital capabilities to capture opportunities in and outside Singapore.

“It does come with investment costs and risk, but not going digital may well be an unviable proposition very soon. It is better to take some risks now, learn the right lessons if it doesn’t work out, and recognise that this is a continuous journey of upgrading,” he urged.

Internationalisation is another key focus of the forum, as the rise of Asia and the Asean region present opportunities for businesses here.

With the formation of Enterprise Singapore – a merger of International Enterprise Singapore and Spring Singapore – companies can now turn to one agency to meet various needs to expand overseas.

Mr Liang acknowledged that while the myriad of grants schemes can be confusing, the Business Grants Portal aims to make grants more accessible to businesses without the need to approach multiple agencies.

Finally, he added that as innovation continues to be vital, the intellectual property (IP) ecosystem can be further strengthened to support innovation among companies.

Those in the works include establishing commercially oriented entities to commercialise the research findings and IP of research institutions, said Mr Liang.

The government has launched a S$1 billion fund alongside Makara Capital to support innovative companies to expand and grow overseas, he added. This was launched with an updated IP Hub Masterplan to develop Singapore’s IP ecosystem.

Source :
ST
Tags: BudgetCreateEconomygood jobsLiang Eng Hwaroundtable
ShareTweetShare
Next Post
Modest Japanese wage gains point to cautious consumption outlook

Modest Japanese wage gains point to cautious consumption outlook

Translate

Popular Post

First shipment of Moderna vaccine for USFK to arrive Friday: sources
Asia News

First shipment of Moderna vaccine for USFK to arrive Friday: sources

December 24, 2020
0

  U.S. Forces Korea (USKF) is expected to receive the first shipment of Moderna's coronavirus vaccine Friday, sources said. The...

Read more
Top palm oil producer sues green group over deforestation allegations

Sobeys $2B loss a sign of hotly competitive market, says analyst

October 5, 2017
Top palm oil producer sues green group over deforestation allegations

Blurred Lines — China’s competition with US resembles low-level warfare: Gertz

October 5, 2017
Top palm oil producer sues green group over deforestation allegations

German businesses face rising threat of industrial espionage

October 5, 2017
Top palm oil producer sues green group over deforestation allegations

Top palm oil producer sues green group over deforestation allegations

October 5, 2017
  • About Us
  • Creative Commons
  • Disclaimer
  • Privacy Policy
  • Terms & Conditions
  • Contact Us

Topics

Follow Us

About Us

Sajja News is part of Sajja News Media Group LLC, which delivers daily news around the globe.

© 2011 Sajja News

No Result
View All Result
  • Asia News
    • China
    • North Korea
  • World News
    • Africa
    • Canada
    • Europe
    • Latin America
    • Middle East
    • Russian Federation
    • United Kingdom
    • United States
  • National Security
    • Cyber Security
    • Military
    • Terrorism
      • Islamic State
    • Politics
      • Democracy
      • Free Speech
  • Business
    • Economy
    • Free Market
  • Science
    • Technology
  • Culture
    • Art
    • Books & Literature
    • Education
    • Family
    • Food & Drink
    • Health
    • History
    • Movies & TV
    • Music
    • Privacy
    • Religion
    • Travel
    • Women & Children
  • Sports
    • Auto Racing
    • Cycling
    • Golf
    • Olympics
    • Football
    • Tennis
    • Water Sports
  • Environment
    • Agriculture
    • Climate Change
    • Forests
    • Water & Oceans
    • Wildlife & Endangered Species

© 2011 Sajja News