Industry transformation was one of the centrepieces of last year's Budget, and Singapore is not dropping the pace of such efforts this year.
Over the next 12 months, 17 industry-specific blueprints will be released, outlining the Republic's jobs and growth strategy for various clusters. These will target the marine and offshore, construction, transport, healthcare, education, financial services and professional services sectors, among others.
"The industry transformation maps are integrative platforms, bringing together various stakeholders - trade associations and chambers, unions, and Government - so as to align our efforts around a common plan to transform each sector," said Finance Minister Heng Swee Keat in his Budget speech yesterday. "We will keep this going at a good pace."
A total of 23 sectors accounting for 80 per cent of the economy will get a revamp under the $4.5 billion Industry Transformation Programme announced last year.
So far, six road maps have been launched and new partnerships forged in the hotel, retail, food services, food manufacturing, logistics and precision engineering sectors.
But these road maps are "live" rather than fixed, said Mr Heng, and will be adapted so Singapore seizes opportunities as they arise.
A key thrust of the transformation programme is that firms should come together in partnerships to share expertise and tackle common challenges.
Yesterday, Mr Heng once again urged firms here to look beyond developing individual capabilities.
Telco Singtel drew praise for collaborating with government agencies to groom talent in the information technology space. "Singtel... also works with the Cyber Security Agency of Singapore and the Infocomm Media Development Authority... to develop mid-career talent for the broader cyber security industry," said Mr Heng.