SINGAPORE - The Government's Industry Transformation Map (ITM) for Singapore's logistics sector was launched on Wednesday morning (Nov 16) by Minister for Trade and Industry (Industry) S Iswaran.
It sets out the plan to transform the industry to capture growth opportunities, while dealing with challenges it will face, such as limited land for new facilities, slowing local employment growth, and increased competition from the region, said Mr Iswaran.
The transformation of the industry, he added, is expected to achieve a value-add of S$8.3 billion, and introduce 2,000 new PMET (professionals, managers, executives and technicians) over the next five years.
The roadmap focuses on three areas: productivity, innovation and talent development.
"The Logistics ITM will support enterprise-level efforts to transform and grow through productivity and innovation. It aims to nurture a strong Singaporean core through talent development. This in turn will help our companies, in particular the small and medium-sized enterprises, to scale up and internationalise."
Mr Iswaran was speaking at the ground-breaking ceremony of JTC Logistics Hub@Gul - also part of the Government's efforts to invest in next-generation infrastructure with high specification units that provide opportunities to deploy automation.
"To stay ahead of increasing competition, our logistics companies must stay committed to achieving operational excellence. This can be done by leveraging technology and adopting best-in-class supply chain practices to improve productivity," he said.
The transformation of the logistics industry will come with higher demand for specialist roles as well as better career progression opportunities, noted Mr Iswaran.
He added the Government will launch the Skills Framework for Logistics by mid-2017 as a guide for individuals and companies on the career pathways, job roles, requisite skills and wages of jobs in the industry.