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MARINE & OFFSHORE ENGINEERING INDUSTRY TRANSFORMATION MAP

Marine & Offshore Engineering Industry Transformation Map

Launch of Marine & Offshore Engineering Industry Transformation Map 
Industry Transformation Programme
Media Coverage


MARINE & OFFSHORE ENGINEERING INDUSTRY TRANSFORMATION MAP

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      LAUNCH OF MARINE & OFFSHORE ENGINEERING INDUSTRY TRANSFORMATION
      MAP

The Marine and Offshore Engineering (M&OE) Industry Transformation Map (ITM) was launched by the Minister for Trade and Industry (Industry), Mr S Iswaran, on 22 February at a special launch event curated

in conjunction with the Association of Singapore Marine Industries(ASMI)’s 50th anniversary. The launch event was held at the Trade Association Hub in Jurong Town Hall, where ASMI is located.

The Minister who was guest-of-honour at the event, also announced the establishment of an ITM Programme Office within the Association, to drive and support the implementation of the ITM initiatives. The M&OE ITM is developed by a multi-agency team led by the Economic Development Board, together with ASMI, the unions and industry partners, under the M&OE Industry Tripartite Committee.

The M&OE sector is one of 23 industries covering 80% of Singapore’s GDP identified by the government under its $4.5 billion Industry Transformation Programme (ITP), where ITMs will be developed to help industries restructure and transform. The ITM    is   a   strategy  to   promote  growth  and  competitiveness  for  the industry. Each ITM integrates productivity improvement, jobs and skills development, innovation, and trade and internationalisation.


The M&OE ITM charts the road map to drive transformation and help companies including small and medium enterprises (SMEs) capture long-term growth opportunities in the industry. It targets toachieve global leadership in smart marine and offshore engineering solutions with optimised resource utilisation. It encompasses four key areas:

·         Preparing for the upturn through innovation and productivity improvements;
·         Deepening ties with industry associations and unions;
·         Pursuing new growth areas; and
·         Equipping Singaporeans with relevant skills.
 

In 2016, the industry contributed S$3.6 billion to Singapore’s GDP, S$12.3 billion to Singapore’s total manufacturing output, and employed more  than 23,000 locals.  The  M&OE industry  has     grown      from    four 

domestic marine firms to more than 1,000 small and medium-sized enterprises today, anchored by world-leading homegrown companies and multinational companies. Through the ITM, the M&OE industry is expected to have a value-add of S$5.8 billion and create some 1,500 new jobs by 2025.
 

The M&OE ITM includes diversifying into adjacent areas such as LNG and offshore renewables, fostering more large enterprise and SME collaborations to tap into growth areas, as well as gaining access to new markets and capabilities through mergers and acquisitions and partnerships with companies in international markets. It  also  includes spurring  the  adoption  of  robotics  and  automation  to  improve    productivity   and   reduce    labour   dependency,

as well as innovating and harnessing digitalisation to create smart companies in international markets. It  also  includes  spurring  the  adoption  of  robotics  and  automation  to   improve productivity and reduce labour dependency, as well as innovating and harnessing digitalisation to create smart marine and offshore engineering products and solutions.
 

The ITM also introduces structured career and skills pathways for professionals, managers, engineers and technicians (PMETs) and non-PMETs through Skills Framework, supporting workforce reskilling through Professional Conversion Programmes (PCP) to move into new job roles, and preparing a talent pipeline for future jobs in smart marine and offshore engineering products and services, and new growth areas.


The ITM Launch also marked the establishment of the M&OE ITM Programme Office in ASMI, with SPRING’s support. The Programme Office will work with companies including SMEs, to drive the adoption of productivity solutions, encourage innovation efforts and address future manpower needs.


 

INDUSTRY TRANSFORMATION PROGRAMME 

The Marine and Offshore Engineering ITM is one of 23 ITMs developed to address issues and deepen partnerships between Government, firms, industries, trade associations and chambers under the government’s S$4.5 billion Industry Transformation Programme. The Marine and Offshore Engineering ITM is grouped under the Manufacturing cluster, which is one of six clusters that the ITMs are grouped into.

Please click here to go to the Marine and Offshore Engineering ITM webpage.

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MEDIA COVERAGE

Media Date Headline
The Straits Times 23 February 2018 Marine and offshore engineering sector urged to diversify
 
The Business Times 23 February 2018 Singapore M&OE remains relevant despite headwinds
 
Channel NewsAsia 22 February 2018 1,500 jobs to be created by 2025 under blueprint for marine and offshore engineering sector
 
Today 23 February 2018 Marine and offshore engineering sector to diversify growth, go digital, add new jobs by 2025



The New Paper  23 February 2018 S’pore to create 1500 jobs in marine & offshore

联合早报 23 February 2018 海事与岸外 工程业转型蓝图出炉 标是在2025年取得58亿元增值
 
Berita Harian 23 February 2018 Industri marin, luar pesisiran dan kejuruteraan akan wujudkan 1,500 kerja baru jelang 2025
 
Tamil Murasu 23 February 2018 Industry Transformation Map for marine and offshore engineering
 
Channel8 news.sg 23 February 2018 海事与岸外业内人士:行业转型蓝图将让员工有提升技能机会
 
  



 
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