Greater backing for positions overseas
Global Ready Talent sees local firms offer 110 internships, 86 associate positions
More support is now available for young people keen to work abroad and for companies to prepare for stints overseas.
The Global Ready Talent programme announced in this year's Budget was launched yesterday by Trade and Industry Minister Chan Chun Sing.
There are 60 local enterprises from industries like media, manufacturing and engineering offering 110 overseas internship positions and 86 overseas management associate positions under the programme.
The Government aims to have 5,000 overseas placements over the next five years.
Mr Chan told around 100 students from the Institutes of Technical Education (ITEs), polytechnics and local universities as well as about 130 business people at the launch event that the most competitive economy will be one that can master its talent best.
"We keep urging (enterprises) to innovate their products and processes, and expand their markets. But in order for the enterprises to do that well, talent is a critical enabler."
Mr Chan also encouraged young people to build up their skills and international knowledge through gaining overseas exposure.
"Live there... understand the intricacies of how other societies work and how they are similar or different from us. Once you have done that, the benefits will last a lifetime," he said.
Companies can receive up to 70 per cent funding for the allowances or salaries of participants.
They can offer local and overseas internship placements to students from ITEs, polytechnics and local universities, or post fresh graduates or young employees with up to three years' work experience to markets in South-east Asia, China and India, under the management associate track for at least one year.
One company on board is business platform Ollohub, which is offering six management associate positions in a joint venture with a Laotian company.
Ollohub chief executive Damien Lam said he hopes the scheme will raise awareness among young Singaporeans about the need to look abroad.
Ngee Ann Polytechnic student Victoria Tan, 21, spoke at the launch event held at the National Gallery about her experience this year on an internship at fleet management start-up DRVR in Bangkok.
Ms Tan, a final-year psychology student, noted: "Through my internship, I gained practical skill sets like being able to negotiate deals and get partnerships, as well as networks, cultural intelligence, adaptability, which are skills I think employers are looking for.
"I hope to work overseas again before going to university because I've seen the sheer amount of growth you get when overseas."