173 views

What should form part of Budget 2023 for the tech sector?

A skills-based tech development was amongst the recommendations.

Singapore tech association SGTech announced the three strategic thrusts or recommendations for Budget 2023 that will ensure the development of a “more resilient and innovative tech sector in Singapore, focusing on talent development.

In a statement, SGTech recommended developing tech talent through a skills-based approach, strengthening the Digital Trust workforce and environment, and incentivising enterprises to leverage technology for sustainable practices.

Skills-based approaches in creating multiple career pathways that are aligned with academic routes should be adopted in addressing new challenges and developments in the sector to withstand disruption and skill redundancies.

READ MORE: Budget 2023 to adopt five-pronged approach: analyst

There should also be a multi-stakeholder approach to support the industry and help local professional, managerial, executive, and technical, and mid-career professionals identify higher-value tech roles, amongst others.

SGTech said there is also a need to improve the Digital Trust environment by piloting a highly specialised Digital Trust workforce, as the recognition of trust is a competitive advantage of Singapore. The association unveiled Digital Trust in October 2022 as one of the efforts to strengthen the country as a digital hub and improve the sector’s contribution to the economy.

The group also calls for practical and acceptable initiatives that will support the adoption of sustainability. These include tiered cash rebates for small and medium-sized enterprises (SMEs) that submit e-waste to a Producer Responsibility Scheme Operator and/or a one-time cash rebate of up to $3,000 annually per SME which submits proof of internal corporate sustainability review conducted along with the implementation of recommendations.

“Our recommendations will help companies to seize the opportunities in the fast-growing digital economy by fostering a more trusted, safe, dynamic, and efficient digital ecosystem, supporting and nurturing a vibrant pool of tech talent, and leveraging tech to operate responsibly and sustainably,” said SGTech Chair Wong Wai Meng.

“We hope the government can consider these recommendations from the tech sector, especially as it attempts to plan for the future of our economy via the Forward Singapore exercise. SGTech remains committed to advocating for the local tech industry and strengthening private-public partnerships,” the chair added.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!