3 August, 2017
The Ministry for Trade and Industry launched the Logistics Industry Transformation Map ("ITM") on 16 November 2016, which seeks to reinforce Singapore’s position as a global logistics hub and transform the industry by achieving a value-add of S$8.3 billion and introducing 2,000 new professional, manager, executive and technician ("PMET") jobs by 2020. The ITM will be implemented through the integrated measures of various governmental organisations working with industry players and trade associations.
Governmental authorities such as the Economic Development Board ("EDB") and SPRING Singapore will spearhead initiatives to support businesses in implementing technologies which increase efficiency and productivity.
Organisations will guide businesses in evaluating and implementing process methodologies and infrastructure that best fit their needs. The government will also work with research institutions and universities to develop certain capabilities that businesses may tap into.
The government will also launch a skills framework for logistics that will be formulated after consultation with relevant stakeholders in the industry. The framework serves as a guide for individuals and businesses in relation to careers in logistics.
Furthermore, new Professional Conversion Programmes ("PCP") have been developed which integrate job-matching and reskilling to help PMET job seekers gain new skills to prepare them for new PMET job roles within the industry as logistics officers and executives. Businesses participating in PCPs may receive salary and course fee support.
Such measures will mainly target small and medium enterprises allowing them to attain greater economies of scale.
The government will also support such enterprises in reinventing themselves to expand into the region and internationally. These measures are supplemented by other initiatives which demonstrate the government's commitment toward the sector − such as the establishment of the JTC Logistics Hub, the first indoor, high-rise, multi-tenant facility co-locating inland container depots, warehouses and a heavy vehicle park, and the Singapore Logistics Association receiving support under the LEAD-Plus programme to boost its capabilities.
For further information, please contact:
Oliver Massmann, Partner, Duane Morris
omassmann@duanemorris.com
