29 September 2005 - Opening Remarks By Mr Chan Yeng Kit, Chief Executive Officer, Infocomm Development Authority of Singapore At Launch of IBM's Academic Initiative and Center for Advance Studies in Singapore Ink Bar, Raffles the Plaza.
Opening Remarks By Mr Chan Yeng Kit, Chief Executive Officer, Infocomm Development Authority of Singapore At Launch of IBM's Academic Initiative and Center for Advance Studies in Singapore Ink Bar on 29 September 2005, Raffles the Plaza.
Ms Patricia Yim, Managing Director, IBM Singapore,
Principals,
Heads of Departments,
Friends,
Ladies and Gentlemen,
1. First of all, let me thank IBM for inviting me. I am delighted to join you to celebrate the Singapore launch of IBM's Academic Initiative and the Center for Advance Studies.
2. The infocomm industry in Singapore contributes to over 6% of our GDP, and employs more than 108,000 infocomm professionals. It is an important sector of the economy. Not only as an engine of growth, but also because it helps to power the other sectors, acting as a "force multiplier", to give us an edge against our competitors.
3. The demand for infocomm manpower is growing. Analysts forecast that the total number of infocomm professionals1 worldwide will grow at a compound annual growth rate of almost 10% up to 2008, reaching some 15 million in 2008.
Nurturing Infocomm Talent in Singapore
4. Much of this global growth in infocomm manpower will be from lower cost countries, like India and China. Obviously, given our low birth rates, Singapore cannot be in the game to compete on quantity.
5. We will have to compete on quality. To be better than those who are cheaper than us. And more innovative and productive than those of the same high calibre.
6. IDA therefore applauds IBM's Academic Initiative, and the establishment of a Centre for Advanced Studies in Singapore. It will help spur innovation in our IHLs, provide students with tools to think "outside of the box", and nurture our future infocomm professionals.
7. With this new initiative, both students and trainers alike will be able to sharpen their thinking, get access to industry leading technology and developers, and be closer in tune with industry trends and needs.
8. For any sector to thrive, manpower is critical. Not just numbers, but more importantly, quality.
9. To ensure Singapore continues to sustain a pool of high quality infocomm manpower, IDA is currently working on various initiatives with the industry, educational and training institutions, to attract our fair share of the best and brightest in schools, into an infocomm career. This effort is part of the on-going masterplanning for iN2015, a 10-year infocomm masterplan to ensure the infocomm industry in Singapore remains vibrant and competitive.
10. IDA looks forward to collaborating with strong industry partners like IBM, to train and nurture the infocomm talents of the future.
11. Once again, I would like to thank, and congratulate IBM on the launch of its Academic Initiative and Centre for Advanced Studies in Singapore. Together with all our partners, I am confident we can bring the infocomm industry to new heights.
12. Thank you.
Note:
1Reference to Professional Developers
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