It also aims to add $31b to the industry's value.
Senior Minister of State Indranee Rajah launched the Professional Services Industry Transformation Map (ITM), which aims to add 5,500 Professional, Managers, Executives and Technicians (PMET) jobs to the industry annually until 2020.
According to a press release, the ITM also aims to add $31b to the value of the industry.
The ITM has identified specific high-growth areas for key sectors within professional services such as data science, analytics, and artificial intelligence (AI).
Singapore will also develop skills frameworks to allow professionals to understand career pathways, skills requirements, and available training programmes.
This follows the Skills Framework for Accountancy launched in October 2017, which identified emerging skillsets such as data analytics, valuation research, and analysis. The skillsets were mapped to six career tracks and 25 job roles.
In addition, institutes will also collaborate with Professional Services firms for SkillsFuture Earn and Learn Programmes (ELPs). ELPs were already launched for Accountancy, Visual Communications, UXDesign and Management, and Branding and Digital Marketing.
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