Singapore eyes creating 10,000 wholesale trade jobs by 2020

There are currently 34,000 firms in the wholesale trade industry.

The Ministry of Trade and Industry (MTI) launched the Wholesale Trade Industry Transformation Map (ITM) to help companies digitalise.

According to a press release, the ITM targets the creation of 10,000 new jobs by 2020.

Comprising over 34,000 firms, the wholesale trade industry provides livelihoods for more than 325,000, accounting for 9% of the workforce in 2016.

The ITM aims to build trade connectivity through digital marketplaces and platforms.

It will also develop enterprise capabilities and industry-ready talent with skills for digitalisation and internationalisation.

Here's more from MTI:

The ITM includes plans to accelerate global trade connectivity, facilitating and capturing value from e-commerce trade flows, as well as increasing SMEs’ market access and productivity through digital marketplaces and platforms

A new government agency, named Enterprise Singapore, will be formed through the merger of IE Singapore and SPRING.

At the PMET level, relevant Professional Conversion Programmes (PCP6) and tertiary programmes will provide local PMETs with opportunities to re-skill and move into new positions in wholesale trade.