NTUC’s e2i (Employment and Employability Institute) and the Singapore Workforce Development Agency (WDA) together with key partners launched MedTech Industry Transformation Initiative (MITI) last 27 September 2013.
The initiative aims to help companies improve their processes and grow a skilled pool of workers to meet the current and future needs of the MedTech industry.
Three companies, who employ about 40 per cent of the total MedTech industry workforce, signed a Memorandum of Understanding (MOU) as a sign of their commitment to the initiative.
A total of $10 million has been set aside for MITI by e2i and WDA for two years to support MedTech companies in developing their operations through productivity, consultancy and implementation of projects.
The fund expects to benefit 1,500 local workers in the MedTech industry.
Companies can utilise this funding to attract and upgrade locals for Workforce Skills Qualification (WSQ) training and non-WSQ courses. Allowance and subsidies for on-the-job trainings are also covered.
Minister in the Prime Minister’s Offficer, Second Minister for Home Affairs and Second Minister for Trade and Industry S Iswaran noted that Singapore’s MedTech industry has not only doubled its employment to almost 10,000 workers, but also more than doubled its manufacturing output to $4.3 million in 2012 over the last 10 years.
“Initiatives like this have a very important place in our overall economic strategy, because what it means is that if we get this right we can strengthen and deepen the capabilities in our sectors and our people will have better skills,” said Mr Iswaran.
e2i Chief Executive Officer Gilbert Tan said that the MITI initiative actually upgrades the jobs to be better jobs through process redesign and automation.
“I think it is an important initiative to keep the companies competitive globally as well as competitive locally for talent,” Mr Tan added.
Original article written by Nicholas Lee, and can be found in NTUC This Week (11 October 2013)
