FILE PHOTO: office workers cross a street in the central business district of Singapore is 27 April 2017. (REUTERS photo/Edgar Su
SINGAPORE (Reuters) – Singapore on Wednesday said it plans to create up to 10,000 jobs in the technology sector over the course of three years in an initiative aimed at the creation of the city-state as a global hub for the industry.
It will be under the leadership of a new government office called the Digital Industry in Singapore (DISG), which brings together the efforts of the various public sector bodies to encourage investment by foreign technology companies, with the support of the local business and the opportunity to work with the industry to shape the future of the policy.
So, armed with a lucrative subsidies and incentives, the island nation has, in the past few years have been primarily focused on technology companies, investors, and top talent in an industry that might be able to help in the fight against some of the slower growth rate of the city-state has seen in a decade.
“DISG will seek to achieve our mission to establish Singapore as a global-Asia technology hub,” said Kiren Kumar, chairman of the digital industry director, DISG.
The new government in office, is expected to create up to 10,000 jobs in the technology sector over the next three years, including positions in engineering, software development, and finance.
DISG also said that it is likely to help companies in areas such as road-from e-commerce, fintech, cyber security, and artificial intelligence.
While Singapore’s low taxes, political stability, solid legal system and infrastructure have attracted foreign companies for several decades, is a recent fake-news-law is in conflict with the likes of Facebook, and the Alphabet of Google’s fear can be an obstacle to the freedom of expression and innovation.
In spite of the large investments in Singapore, there is only one local “unicorn”), a start-up valued at more than $1-billion – in-the-ride-coming to firmly Grasp, according to the research firm CBInsights, while neighboring Indonesia has four.
Reporting by John Geddie; Editing by Sherry Jacob-Phillips