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DPM Heng at the SGTech 40th Anniversary Dinner

Curious to find out what was said at the SGTech 40th Anniversary Gala Dinner? We provide a quick summary. Here is a link to the full speech.

Speech by Deputy Prime Minister and Coordinating Minister for Economic Policies Heng Swee Keat at the SGTech 40th Anniversary Gala Dinner on 1 September 2022.
Deputy Prime Minister Heng Swee Keat at the SGTech 40th Anniversary Gala Dinner on 1 September 2022.

Harnessing Full Potential of Tech

That tech is not just for Information and communication technology (ICT) enterprises. Prior to COVID, digitalization was reshaping entire industries and the pandemic has accelerated this trend. There is urgency to support the technological needs of a broader base of companies. SMEs in Singapore have not fully harnessed the full potential of technology. The pandemic has provided a window of opportunity to transform so that our companies can thrive in the post-COVID world.

Building Human Capital

The shortage of tech talent is a key challenge for Singapore. This was a core issue when SGTech started 40 years ago, with our relatively shallow pool of manpower. While our human capital has deepened over time, talent shortage remains severe.

What is Singapore doing about it?

  • Setting up of the TeSA for ITE and Polytechnic Alliance (TIP Alliance) to end-to-end support in kickstarting their careers in the tech sector, through high quality internships, on-the-job training via apprenticeships, as well as opportunities to obtain further education and industry-recognized certifications.

  • Update our skills map, and prepare our people well for new, potentially more demanding needs across these emerging areas. We must not be behind the skills curve.

  • Bring onboard more business leaders from across the 23 ITM sectors to ensure that technology is embedded in every transformation effort in every industry, and across companies big and small, in the industry. We must make sure tech is pervasive not just in the ICT sector, but across the 23 ITM sectors and in every part of our economy, and society.


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