Government introduces $250mln package for construction sector

The incentives will cover Workforce Development, Technology Adoption and Capability Development.

The Government has allocated $250 million to promote higher productivity, build capability, and help the construction industry adapt to upcoming policy changes.

Covered are the following:

• Workforce Development – Co-funding manpower development through (i) upgrading courses and training in the use of technology, (ii) skill assessment of workers; as well as (iii) scholarships to attract local PMETs to join and lead the sector.
• Technology Adoption – Funding support will be provided to encourage the adoption of technologies and use of equipment that could lead to significant productivity improvements. Greater assistance will be given to help the small and medium size firms harness technology for long term productivity benefits.
• Capability Development – To capitalise on the upcoming pipeline of an estimated $50 billion worth of rail lines and complex expressway projects over the next 10 years, financial support will be provided to help progressive builders to develop capability in complex civil engineering projects and also the more complex building projects.

The government said the construction sector will need to raise the quality of its workforce, design buildings that are easier to construct, and adopt more advanced construction technologies.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.