Employment Pass Singapore – Capability Transfer Programme (CTP) to increase more specialized employees

Employment Pass Singapore – Capability Transfer Programme (CTP) to increase more specialized employees

The Singapore Government created the Capability Transfer Programme (CTP) where companies get support for skilled workers training and transfer of specialised skills from foreign experts. The Ministry of Manpower and the Workforce Singapore piloted this programme which provided funding support to strengthen the fragile industrial sectors, so that they can rely less and reduce their dependence on the number of foreigners holding Employment Pass Singapore.

Foreword

Internationality, flexibility and diversity are various attributes of the Singaporean workers today. The Labor Market contains a lot of qualified and specialized employees. Since skill shortage still existing in many sectors, Singapore needs specialists who passes the Employment Pass Singapore because they constitutes guidance as well as working alongside the local workers. But one issue is still present. If a local or foreign company aims to recruit a specialised worker to increase their productivity, there are funding problems to hire expensive skilled foreign experts which many companies cannot afford.

Most Important Facts about CTP:

  • The programme encourages non-limited human resources in all Singaporean industries and gains professional bodies who instill the requisite skillset to the Singaporeans
  • Locally owned companies with local interest are more keen to support instead of pure foreign companies

→ First considering the local capability gaps, afterwards the potential impact of the transfer of capabilities to individual companies and the industry as whole

  • CTP includes training support for local and foreign workers as long as the aim refers to gain new abilities and limited resources are present

 

  • employment pass singapore

 

How To Apply for the CTP:

It is necessary to apply for the Capability Transfer Programme (CTP). In the application, it is important to mention the details about the purpose of applying for the government’s funding scheme. Engaging the services of human resource consultancy services firm such as JobPlus could be a good approach to reach the maximum possible funding. Interested companies can negotiate the terms in a consultancy service proposal for the application of Singapore Government Funding for Capability Transfer Programme to cover areas such as:

  1. Scope of Service
  2. Funding Amount
  3. Consultancy Fee

If your company wants to apply for the Capability Transfer Programme (CTP), get in contact with the Workforce Singapore via ctp@wsg.gov.sg.

Funding amount:

The estimated amount of funding approves between 30% to 70% of SGD300,000. The final approved amount also depends on the ownership of the companies. Locally owned companies can expect a higher funding than foreign owned companies. A case-by-case basis determines whether a higher amount than SGD300,000 of funding is needed.

To summarize, the Singapore Government tries to enhance the Singaporean Labor Market and the currency of Employment Pass Singapore to the fullest. They try to be of assistance to companies from all sectors through funding support. Projects should increase companies technical capabilities and close the capability gaps in the fast changing world of technology, innovation and global competition.

 

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