Singapore launches Marine & Offshore Energy Industrial Plan

The plan is expected to create 1,000 jobs, as part of efforts to steer Singapore towards becoming a globally impactful and thriving M&OE hub by 2030.

Enterprise Singapore and the Association of Singapore Marine & Offshore Energy Industries (ASMI) have collaborated to launch the Marine & Offshore Energy Industry Plan. 

According to a Facebook post by Minister for Manpower Dr Tan See Leng, the development of the Marine & Offshore Energy Industry Plan outlines a strategic roadmap to steer Singapore towards becoming a globally impactful and thriving M&OE hub by 2030. 

Following the 10 February launch, Minister Tan also shared three key bearings that the industry in his needs in order to continue sailing forward:  

1. First, companies can "chart new courses" in growth areas by continuing to look out for opportunities that Singapore can develop a competitive edge in. 
2. Second, the plan will support promising and ambitious firms to "master the seas" by growing and scaling internationally. 
3. Third, is a desire to "raise the tide" and uplift the sector’s capabilities as a whole. Funding has been set aside to support companies in building new capabilities and upskilling their workforce to meet the needs of identified growth areas. 

According to a press release by ASMI, and echoing Minister Tan's three key bearings, the three-pronged approach are as follows: 

• Chart new courses: Diversify current business portfolios by capitalising on green opportunities in offshore renewables and maritime decarbonisation. This includes leveraging the partnership between ASMI, the Global Wind Energy Council (GWEC) and EnterpriseSG to help Singapore companies participate in international platforms (e.g., networking events, knowledge exchange, capability building workshops, etc.) to access global and regional offshore wind development opportunities.
• Master the seas: Scale internationally while building a strong “Made in Singapore” identity. Companies are encouraged to capitalise on the various support and internationalisation programmes available, including ASMI’s efforts in organising Singapore Pavilions at international tradeshows, and business mission trips to key growth markets such as Japan, South Korea, and Europe. ASMI will also continue to work with EnterpriseSG to facilitate companies' global market expansion ambitions.
• Raise the tide: Prioritise transformation through digitalisation, sustainability, and workforce development. ASMI’s Marine & Offshore Transformation Initiative, in partnership with Workforce Singapore, has been actively driving change by nurturing a growing team of marine decarbonisation and digitalisation champions within companies. More than 50 companies have benefitted to date. These champions will play a crucial role in helping firms transform their operations and build future-ready capabilities, ensuring they remain competitive in a rapidly evolving global landscape.

In addition, 1,000 local job roles will be created and redesigned by 2030, and will focus on upskilling and reskilling to develop a future-ready workforce that can take on new roles in offshore renewables, sustainability, digitalisation and advanced manufacturing.

"With the support of our industry partners and workers, I am confident that Singapore will remain a globally competitive hub that is well-positioned to leverage new growth opportunities," Minister Tan stated.

Simon Kuik, President, Association of Singapore Marine and Offshore Energy Industry, commented: "Singapore's Marine & Offshore Energy sector is at a pivotal point, with new opportunities in offshore renewables and maritime decarbonisation.

"To stay competitive, companies must innovate, adapt, and build new capabilities. ASMI is committed to collaborating with industry players and stakeholders to drive this transformation, supporting business growth, fostering innovation, and developing a future-ready workforce," he added. 

"This will help position Singapore as a global leader in the energy transition, strengthening its role as a key hub in the marine and offshore energy industry.”

Soh Leng Wan, Assistant Managing Director (Manufacturing), Enterprise Singapore, said: “The Marine & Offshore Energy Industry Plan is timely, as the increasing demand on maritime decarbonisation and global push for cleaner energy will bring about new business opportunities for Singapore-based companies and Singaporeans.

"We encourage companies to partner ASMI to recalibrate their growth strategies, transform their operations, upskill their workers, and build new capabilities to capture emerging opportunities in the industry."

READ MORE: Singapore and Indonesia extend maritime training partnership 

Lead image / Association of Singapore Marine and Offshore Energy Industry