KEYNOTE SPEECH BY DR KOH POH KOON, SENIOR MINISTER OF STATE FOR MINISTRY OF TRADE AND INDUSTRY AT THE INTERNATIONAL TRADING PROFESSIONAL CONVERSION PROGRAMME (ITPCP) GRADUATION CEREMONY 2017 ON 15 NOV 2017, WEDNESDAY, 2:50PM

Mrs. Josephine Teo, Second Minister, Ministry of Manpower

Professor Arnoud De Meyer, President, SMU,

Professor Annie Koh, Vice-President, SMU

Graduates,

Family Members,

Industry Partners,

Ladies and Gentlemen,

Introduction

1.            Good afternoon. I am pleased to join you today at the International Trading Professional Conversion Programme (PCP) Graduation Ceremony 2017. Today marks an important milestone for our graduates, as they embark on a meaningful career in this exciting sector of wholesale trade.

Good job prospects in International Trading

2.            The wholesale trade sector is a key pillar of Singapore’s economy. In 2016, the sector accounted for about 12% of our Gross Domestic Product (GDP) and directly contributed more than 325,000 jobs in Singapore. As one of the leading global trading hubs, more than 80% of our sector’s sales are derived from international trading. With rapid urbanisation and consumerism in the region, especially in Asean – which is a vibrant region - international trading has good growth potential that can create good jobs for Singaporeans. You heard from our earlier speaker, Professor Arnoud, that we are expecting to create 10,000 new jobs by 2020 in this sector alone, in all various categories – front of office, middle room and back room as well.  

3.            Technological advancements such as blockchain technologies and data analytics will shape the way global trade is conducted in the immediate future and beyond. As companies transform their business models to sustain their competitive edge, the profile of jobs and skillsets will likewise undergo transformation and change. Increasingly, businesses will require talents with skillsets such as predictive data analytics and digital business solutions that will allow them to tap on the rapidly growing e-commerce space. As part of our deliverables as ASEAN chair, we want to push for e-commerce connectivity within ASEAN. With the realisation of the ASEAN Economic Community at the end of December 2016, it means that ASEAN as a vibrant region is integrating further. This market of 620 million people will continue to grow rapidly. It is expected that by 2030, 50 percent of the population in ASEAN will be in the middle class – so that is a huge middle class segment that will drive consumerism, therefore offering even more exciting opportunities for the wholesale trade and logistics sectors.

4.            This opens up an exciting array of job opportunities with international exposure that requires skills that traditionally are found in adjacent sectors such as Logistics and Finance. The growing wholesale trade sector therefore holds promise for mid-career professionals, like many of you who are here today, from these other sectors to undergoing re-skilling and re-training and then venturing into these new growth areas.

Building a pipeline of industry-ready talent

5.  We recognise the need to ensure that our people have the relevant training and experience to tap on these opportunities. The Government has worked with relevant industry stakeholders to develop manpower initiatives to build up relevant capabilities in our workforce. The International Trading Professional Conversion Programme, or PCP in short, is one such ongoing effort.

6.            Developed by the Singapore Management University (SMU), in partnership with IE Singapore, Workforce Singapore (WSG) and the International Chamber of Commerce (ICC) Academy, the International Trading PCP aims to equip mid-career professionals with the skillsets and expertise to participate in international trading and to tap in this rapidly growing market. Stretched over a year, participants will be able to gain first-hand experience through a ‘place and train’ model with our participating companies. To date, SMU has rolled out two intakes of the non-commodities track and one intake of the commodities track.

7.            Today, I am pleased to witness the inaugural cohort of 20 graduating participants from the non-commodities track of the International Trading PCP. Amongst the graduating participants is Mr. Maximillan Wong, who is currently working in Kims Marketing, a local distributor of industrial lubricants for ExxonMobil. Drawn by the offer of new learning opportunities and international exposure, Mr. Wong signed up for the programme, and made the switch to this sector after 4 years in the solar films industry. Now a Global Product Specialist with Kims Marketing, he is responsible for driving the company’s product sales globally, which provides him with the opportunity to work with international counterparts in various overseas markets. With SMU working towards a target of 100 PMET matches per year, we look forward to more such graduates, like Mr Wong, from this programme.

Industry stakeholders’ support is crucial

8.            Our efforts would not be successful without the strong support from our industry stakeholders, ranging from educational institutions to private enterprises. It is important that everyone is on board because no amount of training will be enough unless our industry is willing to also participate and drive this process. Therefore, I am heartened to note that 16 companies took the lead to participate in this programme when it was launched last year, offering on-the-job training and career opportunities for our participants.  To date, there are 53 participating companies on the International Trading PCP. So I look forward to more partners coming on board. And hopefully, this will increase the momentum in which we can create more job opportunities for our mid-career professionals. With relevant skillsets and experience, mid-career professionals making the switch to the wholesale sector can make meaningful contributions to your companies. Let me take this opportunity to thank SMU, ICC Academy and our industry partners for your strong support. It would also not be possible for the course to get such good traction and momentum without the enthusiasm and energy of Professor Annie Koh.

Conclusion

9.            In closing, I would like to congratulate all graduating participants on your achievement. The decision to make the career switch is not an easy one, but the training and exposure gained will no doubt have prepared you for a meaningful career in this sector. For the cohort of participants who are commencing their programme today, I encourage you to keep an open mind, and to take advantage of the vast learning opportunities and experience offered by our industry practitioners.

10.         I wish everyone a fruitful day ahead. Thank you.

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