PROFESSIONAL, MANAGERIAL AND EXECUTIVE STAFF (Retrenchments and retraining)

Mdm Ho Geok Choo asked the Minister for Manpower in view of the increasing number of retrenchments of professional, managerial and executive staff aged above 40, (a) what special programmes are in place to re-train this cohort for relevant jobs to be created by the Free Trade Agreements that have been concluded and (b) how can we ensure that some of these relevant jobs will be made available to them.

The Minister for Manpower (Dr Lee Boon Yang): Mr Speaker, Sir, Singapore's Free Trade Agreements (FTAs) with important trading partners such as New Zealand, Japan, European Free Trade Association, Australia and recently concluded negotiations with USA, will save our exporters hundreds of millions of dollars of tariffs a year and open up access to previously closed or restricted sectors. This will create new opportunities for our companies to expand overseas and attract more investments here to take advantage of the increased trade access. This will also result in more employment opportunities for Singaporeans. The nature of the jobs which will be created will depend to a large extent on whether industries are quick off the mark to seize the new market opportunities and also on the nature of new investments attracted to Singapore.

Ultimately, the extent to which Singapore and Singaporeans benefit from these FTAs will depend on our companies' ability to seize the opportunities afforded under the FTAs to grow and expand internationally. The recently concluded FTAs will not help us to hold on to jobs that are no longer competitive, whether in the manufacturing or services sectors. We have to remain more productive than our competitors. Our workers must also have the requisite skills and capabilities to take on these new job opportunities. Workers without the relevant skills must be prepared to upgrade and be retrained to remain employable. This is the only way for us to benefit from the FTAs.

Mature professionals, managers and executives, otherwise known as PMEs, who have unfortunately been retrenched or are currently still unemployed can take advantage of the various training programmes established by my Ministry, such as the Strategic Manpower Conversion Programmes in Infocomm, Internationalisation, Healthcare, Social & Community Services and Logistics sectors to equip themselves with new skills and capabilities. In addition to this, professionals and executives who are interested in starting their own businesses can take advantage of my Ministry's Self-Employment Training Programme. My Ministry will consider what other training programmes are needed and relevant to enhancing the employability of professionals, managers and executives.

Mr Speaker: Mdm Halimah.

Mdm Halimah Yacob (Jurong): Question 13, Sir.

Mr Steve Chia Kiah Hong: Supplementary question, Sir.

Mr Speaker: I have already asked Mdm Halimah to ask her Question.