Investments to create 20,000 jobs in Singapore
MOM: job growth expected for next 3-5 years
This month February, the local newspapers have been carrying lots of positive announcements and news regarding the future employment in Singapore.
The Economic Development Board (EDB) said that it expects to secure $8 - 10 billion in fixed-asset investment this year, and it will lead to create between 19,000 and 21,000 news jobs in Singapore.
As for the last year's inbound investment, it totalled $9.4 billion and it results in 20,100 new jobs.
EDB managing director Yeoh Keat Chuan said, "We believe that Singapore is attracting its fair share of investments and that it remains competitive."
"We will continue to seize economic opportunities brought about by growth sectors, including advanced manufacturing, hub services and digitalisation, and help Singaporeans take up new jobs with skills upgrading programmes", Chairman Beh Swan Gin added.
MOM also announced that Singapore aims to created about 25,000 to 40,000 jobs annually for the next 3-5 years.
Minister of Manpower Lim Swee Say noted that Singapore had experienced less number of jobs being created in the last 2 years due to economic restructuring and an ageing workforce. "We won't go back to the days of 100,000 to 120,000 jobs a year, but the number will stabilise at the new base."
The article says that more jobs in the coming years will be aimed at professionals, managers, executives and technicians (PMETs).
Another article on the local newspaper reveals that job vacancies for PMETs rose to about half of overall vacancies last year.
Most of the PMET vacancies came from sectors such as community, social and personal services, financial and insurance services professional services and infocomm.
The highest unmet demand was seen in occupations like teaching and training professionals (2,100 vacancies), managing executives (1,210) and software, web and multimedia developers (1,150).
For more details, please go to
The Straits Times
The New Paper