According to the Communications and Information Minister Josephine Teo, the Infocomm media (ICM) sector is likely to take up a larger portion of the Singapore economy in the future.
Committed investments secured by the Economic Development Board in 2019 and 2020 are expected to add 20,000 digital roles, equivalent to two-fifths of the job creation from these investments. Ms. Teo stated that as more and more sectors become digitalized, the demand for digital tech talent will increase significantly across the economy. The growth of the sector also means more attractive careers for Singaporeans.
The economic contribution of the ICM sector had already increased by 4.8 percent in 2020, while local employment increased by 8,100 jobs.
“The sector will be critical to developing Singapore’s digital innovation capabilities and creating sophisticated digital products and services that have global-reaching potential.” said Ms. Teo. “It will also be a growth multiplier for the economy as a whole.” The minister also reiterated several key strategies to help the industry build a digital economy.
These include, for example:
“We will redouble our efforts to help more Singaporeans actively participate in our digital workforce,” added Ms. Teo, pledging to keep Singapore’s digital infrastructure “secure and reliable.”
Ms. Teo made her first public address since her portfolio change due to May’s Cabinet reshuffle at a Singtel-owned NCS technology vendor event at the Sands Expo and Convention Center. As a sign of the times, NCS plans to hire “up to 2,000 tech talents” over the next two years, as the new NCS NEXT office, founded in late 2019, works to drive a shift towards digital, cloud and platform services.
By reinventing themselves, technology providers like NCS are better equipped to take advantage of the new business opportunities in information technology and to support the digitization of local businesses, Ms. Teo told the group of companies. NCS, which announced a strategic transformation for the first time at the end of 2020, presented a new brand identity on Wednesday that includes the business areas “Gov +” and “Telco+”.
Building on NCS ‘track record of serving Singapore’s public sector, Gov + will add governments and smart cities to the company’s portfolio in the Asia-Pacific region.
Meanwhile, Telco + has been announced as a joint initiative with the parent company to help telecommunications companies improve operational efficiency and develop 5G-enabled solutions for businesses. The revised NCS has already identified Singapore, Australia and Greater China (mainland China and Hong Kong) as key markets, with innovation centers to be established in Singapore as well as Melbourne and Shenzhen.
To learn more about Singapore incorporation, economy, banking, etc., feel free to call/WhatsApp us at +65 90612851 or email us at firstname.lastname@example.org. Alternatively, you may leave us a reply using our contact form below.
Keep in touch to receive the latest listing, news updates and special offers delivered directly to your inbox.