Extending Global Talent Ready Programme to MNCs without 30% Local Shareholding Requirement
Ministry of Trade and IndustrySpeakers
Summary
This question concerns Ms Nadia Ahmad Samdin’s inquiry into whether the Global Ready Talent Programme could be extended to foreign multinational corporations or if a new version could support foreign firm internships. Minister Gan Kim Yong explained that the 30% local shareholding requirement ensures the programme supports Singapore enterprises in building a local talent pipeline. He noted that alternative government co-funded opportunities exist through the Infocomm Media Development Authority’s partnerships with international technology firms. Additionally, Institutes of Higher Learning independently secure sufficient internships with both local and foreign firms to fulfill student requirements and enhance employability. These various initiatives allow students to gain industry-relevant skills and global exposure while enabling diverse firms to develop a pipeline of local talent.
Transcript
23 Ms Nadia Ahmad Samdin asked the Deputy Prime Minister and Minister for Trade and Industry whether the Ministry will consider (i) extending the Global Talent Ready Programme to foreign multinational corporations that do not meet the 30% local shareholding requirement or (ii) introducing another version of the programme specifically designed to support internship opportunities and workforce training with foreign firms to better prepare students for employment and provide work experience.
Mr Gan Kim Yong: The Global Ready Talent Programme (GRTP), administered by Enterprise Singapore, seeks to help Singapore enterprises build a talent pipeline through local and overseas internships for our students. The minimum local shareholding criterion of 30%, which is in line with other business grant schemes to support Singapore enterprises, reflects this intent.
There are other opportunities for students to undertake internships with different archetypes of firms, including multinational corporations based in Singapore. For example, the Infocomm Media Development Authority works with the Institutes of Higher Learning (IHLs) to provide internship opportunities with leading international technology firms based in Singapore, co-funded by the Government. IHLs, through their own efforts, are also able to secure sufficient internships with both local and foreign firms for students to complete course requirements. These internships allow students to build industry-relevant skills, gain global exposure and improve employability, while enabling firms to build a pipeline of local talent.