As Singapore envisions becoming the next regional technological hub, possessing the relevant skills-sets in the tech industry certainly holds an edge for you to contribute and grow the economy. However, does this necessarily mean that tech applicants would trump over the others in their PR application? Let us debunk the myth today!
With Singapore’s rapid digitalisation moving faster than the supply of our tech professionals, it has resulted in a talent crunch. Foreign talent is required to fill our talent gap to ensure Singapore remains competitive. Being in the tech sector certainly acts as a bonus if you plan to apply for a Singapore PR.
However, with that said, there is still a myriad of attributing factors that determines the final approval by Immigration Checkpoint Authorities. But before we rush into which, let us share first why you could be in demand.
Importance of other sectors
Singapore Nominal GDP 2020, Photo Credit: Department of Statistics Singapore Website
The tech sector alone does not form the bedrock of Singapore’s development. In 2020, the top three sectors contributing to Singapore’s nominal GDP were Manufacturing, Wholesale Trade and Finance & Insurance. These industries will never become obsolete as Singapore is heavily reliant on them.
Why is the government heavily investing in the tech sector?
With our nation slanting towards the global spotlight, numerous global technology giants, such as FAANG and BAT, have made Singapore their regional or global innovation center or engineering hub. Singapore is also emerging as a globally preferred data center host due to its politically stable climate.
For example, Facebook has a US$1 billion 11-story data center in Jurong East. Without a doubt, Singapore is a prime location for tech firms all around the world. It will be wise for the government to invest in the tech sector to benefit Singapore’s development.
Tech Manpower Crunch
Unfortunately, the supply of tech professionals is falling behind the rate of digitalisation. With only 2,800 information and communications graduates produced annually, it is an increasing concern that the government has to prioritise. According to Vivian Balakrishnan, Minister in charge of the Smart Nation Initiative, Singapore needs 60,000 tech professionals in the next three years. To resolve this issue, the government has launched a Tech Pass program and CECA pact aimed at bringing in foreign tech executives to facilitate growth in the sectors.
There is an opportunity for entry!
‘Tech-lite’ roles, such as digital marketing, are readily available as the tech industry flourishes. While making the economy more robust, it has opened a world of opportunities for many. If you think making a mid-career switch is bizarre, think again. In 2020, over 6000 individuals joined professional conversion programs. Not only have they acquired new skills and made career switches. Covid has proven that we are now in an era of adaptability, where the workforce places a premium on up-skilling.
Now, to the big question: Am I in demand?
You certainly are. While we have shared the importance of how being a tech applicant could potentially add value to our Singapore economy, it is crucial to evaluate the other attributing factors that might make or break your PR application.
If you are not confident of nailing your application, we are here to help! Our experts here at Kenneth & Co specialise in doing an in-depth review of your profile, identifying potential weaknesses, and maximising your chances at application. We also offer documentation and notarisation services to ensure your submission is error-free!
Contact us for a free consultation today to evaluate your chances of PR approval: https://calendly.com/kenneth-co.