As per a study by SGInnovate, majority of the tech employees shared that they are optimistic that Republic's science and technology industry will remain competitive for the next decade. About 88 percent of research and development (R&D) and technical professionals based believe Singapore will remain competitive as a global science and technology hub in the next 10 years.

Furthermore, around 84 percent feel that pursuing an R&D or technical role in the science and technology industry is rewarding in terms of career prospects and remuneration.

Clarence Quek, senior client solutions director at Randstad Singapore said, "Singaporeans no longer have to travel far and wide to do impactful work. The ecosystem is created here, we are attracting global organisations to come here."

Singapore has indeed come a long way in developing itself as a tech hub and creating opportunities for its talent within the country. It has also attracted businesses from overseas to expand and operate in Singapore.

Even in the survey, Singapore government's clear direction was highlighted as one of the top reason to believe that country's science and tech industry will remain competitive. While Singapore's science and tech industry will remain competitive, skilling is a crucial aspect the government and corporates together have to attend to.

Skilling: Critical for maximizing the competitiveness of science & tech industry

The industry's growth depends hugely on talent and its capabilities to innovate and leverage science and tech. Hence, it was no surprise that developing local talent was highlighted as an important assignment  the government should take the lead on by more than a quarter of the respondents.

Currently, seven in 10 respondents believe that the current tech professionals in Singapore's engineering discipline have "high-quality skill sets as well as mindset". This includes attributes such as continuous learning, willingness to experiment and openness to new ideas. However, in terms of soft skill sets and entrepreneurial spirit, they had a poorer perception, with fewer than half of the respondents believing there is a "high prevalence" of such qualities.

In terms of skill development, the learning programs have to focus both on both technical as well as soft skills as the world of work needs talent that can converge both ideas and technology. They are required to be not only good with science and tech but also have the ability to articulate what they want and take ownership of projects.

Let's see how corporates and government come together and nurture the workforce to maximize the competitiveness of science and technology Industry in Singapore.