Sophisticated worker skills crucial to boosting productivity: ICAEW

Singaproe cannot rest on its laurels.

Local workers must develop sophisticated skillsets in order to boost Singapore’s lagging productivity growth, the Institute of Chartered Accountants in England and Wales (ICAEW) stated in a report.

The report noted that the country cannot rest on its laurels even after achieving the distinction of being the ASEAN’s leading economy.

“As the nation celebrates its 50th year of independence, and continues to move higher up the value chain, it is important for its workforce to have sophisticated skillsets. We expect the government’s focus on providing high-quality education and skills to contribute to Singapore’s economic growth and break through its productivity plateau in the longer term,” said Mark Billington, Regional Director, ICAEW South East Asia.