They can gain regional work experience for career development in innovation-related roles
[SINGAPORE] Young professionals from Singapore and Vietnam can now take up innovation-related roles in companies based in each other’s countries for up to two years – thanks to a freshly commenced talent exchange scheme.
Thirty companies and 53 individuals – who hail from the technology, biomedical technology, and banking and finance sectors, as well as tertiary institutions – have expressed interest, said Singapore’s Ministry of Trade and Industry (MTI) on Friday (Oct 10).
These numbers represent an early indication of interest to participate, and do not denote registrations or applications, noted an MTI spokesperson in response to queries from The Business Times.
The update comes as both countries held the 19th Singapore-Vietnam Connectivity Ministerial Meeting in Hanoi, co-chaired by Singapore’s Minister-in-charge of Energy and Science and Technology Tan See Leng and Vietnam’s Finance Minister Nguyen Van Thang.
This marks the first edition of the economic platform since the upgrade of bilateral ties to the highest-tier Comprehensive Strategic Partnership in March.
Both sides agreed to commence the two-way flows of the Singapore-Vietnam Innovation Talent Exchange Programme, which was launched at last year’s meeting after the inking of a memorandum of understanding in August 2023.
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The MTI spokesperson noted that since the programme’s parameters were announced last year, both countries have worked out the application process and adapted their online application systems.
“We are finalising some changes and will soon be accepting and processing applications to the programme. MTI will reach out to these interested companies and individuals and invite their participation in the programme.”
The ministry noted on Sep 18 last year that the programme had seen “strong interest”, with 14 companies and 16 Singaporeans pre-registered to participate as at that time.
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The scheme has an annual quota of 300 applications. These young professionals can gain regional work experience for career development in innovation-related roles, including those involving data science and analytics, cybersecurity, artificial intelligence and semiconductors, added the ministry.
Separately, the ministers acknowledged the progress of the Singapore unit in the Vietnam Foreign Investment Agency. Established at last year’s meeting, the unit aims to drive investments by Singapore companies in Vietnam.
The duo witnessed the awarding of an investment registration certificate to Keppel by the Ho Chi Minh City People’s Committee for its Saigon Centre Phase 3 project, and the launch of a digital transformation work plan by Grab Vietnam and the Da Nang People’s Committee.
The ministers also saw the launch of the Off-Airport Cargo Terminal, a joint venture between home-grown logistics giant YCH Group and Vietnamese conglomerate T&T Group in Phu Tho province.
Both sides also reaffirmed their commitment to facilitate low-carbon electricity imports from Vietnam to Singapore; jointly support efforts to build the Asean Power Grid through the development of a framework on subsea power cables; and operationalise their carbon credits implementation agreement.
The two countries also reaffirmed cooperation in working towards a joint agrifood trade task force between the Singapore Food Agency and Vietnam’s Ministry of Agriculture and Environment.
Said Dr Tan: “Vietnam remains an attractive market for Singapore’s companies and talents, and Vietnam companies continue to see Singapore as a reliable partner in the region.”
Singapore was Vietnam’s second-largest cumulative foreign investor in 2024.
