February 28, 2024

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Singapore, a tech powerhouse

According to a report, Singapore is expected to become a top destination for tech hiring over the next ten years, considering its highly educated workforce, proximity to large Asian markets, and pro-tech-investment policy stance.

The report indicated that number of available job positions in the tech industry has overtaken the finance sector in Singapore.

There were over 52,090 job postings in the tech sector on the website as of last November, up about 40% from a year earlier.

Of the 5,806 tech jobs postings in Singapore, 3,072 are open jobs in the computer software and hardware industry and 1,418 open jobs in the modern tech and internet industry as against 4,715 jobs in the finance sector.

The report data is consistent with what is seen in the United States labour market, where there are three times as many tech job postings than in the financial industry.

For the open finance jobs available on the website, the estimated median base pay was SD $8,338 (about US $6,148) per month. For the open tech jobs, the overall monthly median base pay was SGD $7,253 (about US $5,348), almost SG $1,000 (US $737.3) less per month.

According to the Singapore Government, the factors that make the country so appealing to start-ups are a sophisticated IT infrastructure and pro-business ecosystem geared toward fostering innovation. A rich, readily available pool of young, highly educated tech talent and advanced software engineers. And its invaluable geographical proximity to thriving tech markets.

Last year, Singapore’s Economic Development Board (EDB) noted that 80 out of the world’s top 100 technology companies have operations in Singapore, which account for 6.5% of the country’s GDP. It said that credit for the nation’s appeal goes to its state-of-the-art infrastructure, business-friendly tax structure, and stringent intellectual-property laws.

Singapore ranked first in Asia, according to the 2017 Global Innovation Index, while the Bloomberg Innovation Index of the same year, listed the country as 6th in the world, ahead of Japan and the United States.

Singapore was ranked first in digital infrastructure in the Economist Intelligence Unit’s latest Asian Digital Transformation Index, 2018. The EDB said that firms can tap into that one of the world’s most technologically advanced IT infrastructures to easily test and pilot new products as soon as they set up their WiFi network.

The future of work in Singapore is likely to feature many more opportunities for ‘knowledge workers’, those using data, software, and intellectual skills, in the country’s growing tech and financial sectors, the report said.

Official figures from Singapore’s Ministry of Manpower show that tech and finance hiring is on the rise as a percentage of total open jobs. Tech and finance hiring has risen from 6% of open jobs between 2006 and 2013, to more than 12% as of June 2018. This trend toward Singapore’s rising tech hiring is likely to accelerate in the coming decade.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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