SGTech, Singapore’s premier tech association, has unveiled its recommendations for the 2025 Budget, emphasising the need for AI-driven workforce upskilling, a global talent strategy, and enhanced support for small and medium-sized enterprises (SMEs). As technological disruption accelerates, SGTech warns that without targeted interventions, Singapore risks losing its competitive edge in the global tech sector.
The association, representing over 1,300 member companies, stresses the importance of leveraging Singapore’s skilled workforce and strategic location. However, challenges such as offshoring, talent migration, and an AI skills gap threaten to undermine long-term competitiveness. SGTech’s recommendations include:
– Accelerating workforce upskilling through AI adoption
– Strengthening Singapore’s position as a Global Talent Hub
– Increasing support for SMEs in the tech talent ecosystem
Nicholas Lee, Chair of SGTech, stated, “Our Budget 2025 recommendations are about more than just short-term growth – they are about securing Singapore’s place in the next era of global technology leadership.”
SGTech proposes stronger partnerships between government agencies and industry associations to drive AI adoption among SMEs. This includes showcasing successful AI use cases and enhancing business consultancy support to help SMEs implement AI-driven productivity improvements.
To bolster Singapore’s status as a Global Talent Hub, SGTech recommends financial support for overseas placements and a skills-based approach to immigration policies. Sharon Teo, Co-Chair of SGTech’s Talent Steering Committee, highlighted the need for SMEs to attract tech talent, stating, “By incentivising SME-led training and adopting a skills-first hiring approach, we can build a more agile, competitive workforce.”
The association also suggests expanding on-the-job training initiatives and introducing co-funded SME scholarship schemes to attract young professionals to SMEs, ensuring a robust tech talent ecosystem.
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