Singapore’s manufacturing industry is at a critical juncture, and Budget 2025 is expected to play a pivotal role in strengthening its global competitiveness. The Singapore Manufacturing Federation (SMF) has proposed a comprehensive agenda to address pressing workforce and industry challenges, highlighting sustainability, human capital development, internationalization and productivity.
Key workforce-related priorities include accelerating skills development in emerging technologies such as artificial intelligence (AI), robotics, and green manufacturing. In a recent SMF survey, 88% of manufacturers highlighted the need to upskill in these areas, and 91% said sustainability is essential to global competitiveness, demonstrating the urgency is emphasized.
The SMF proposes expanding funding to SkillsFuture to include specialized training in robotics, the Internet of Things and sustainable practices. Incentives to retain talent, such as salary support and subsidies for structured training programs, can further strengthen career advancement and employee resilience.
To address workforce shortages in science, technology, engineering, and mathematics (STEM) fields, SMF recommends increasing funding for school-led initiatives and promoting careers in manufacturing. This is in line with broader efforts to position Singapore as an Industry 5.0 leader by developing a tech-savvy workforce.
The SMF’s agenda also proposes measures to strengthen the integration of SMEs into global markets, such as a regional trade support fund and incentives for partnerships with multinational companies.
With these strategies, Budget 2025 will act as a transformational catalyst for workforce growth, ensuring Singapore’s manufacturing industry not only adapts to global challenges, but also seizes future opportunities in sustainability and advanced technology. You can definitely grab it.
