Introducing a new Tech@SG programme in Parliament on Monday, Singapore Trade and Industry Minister said the need of the hour is not to sit back but join the race to attract global talent to work in deep tech areas such as artificial intelligence and cyber security.
He reminded members that a global race is on to attract highly-skilled tech professionals in these fields, and "if Singapore sits back and does nothing, we will almost certainly be left behind."
He cited Thailand, China and France which have special visa programmes to make it easier for tech talents to work in their countries.
Mr Chan, in his reply to labour MP Patrick Tay who had asked whether there was a need for Tech@SG, said industries such as cyber security, artificial intelligence and big data analytics, often referred as deep tech industries, are going to be the "linchpin for the future economy."
"If Singapore sits back and does nothing, we will almost certainly be left behind. We have only a small window to build a critical mass of high-end professionals, start- ups and companies," he said.
The highly-skilled foreign professionals will complement the Singapore workforce, to reduce the risk of losing the "competitive edge," he explained. "In a world where multi-sectoral, cross-discipline and cross-cultural teams are increasingly common, Singaporeans must learn how to work with people from all around the world," said Mr Chan.
The technology companies incorporated in Singapore, with more than US$10 million (S$13.9 million) in venture capital funding, with a commitment and ability to build teams and products in Singapore. Alibaba, Grab, SAP and Taiger are some of the companies to be facilitated under the programme, said Mr Chan.
When Singapore opened up for foreign talen in the semiconductor industry during the 1960s, more than 7,000 jobs by National Semiconductor, Fairchild and Texas Instruments were created in three years, he noted. "Today, we have a similar opportunity," he said.
