5 professions in Singapore to best invest your SkillsFuture Credit

A resilient workforce begets a competitive economy, hence human capital is one of the most important resources of any country.

With Singapore being at the forefront of emerging markets in Asia, the Singapore Workforce Development Authority (WDA) drafted out a new Continuing Education and Training Masterplan for 2020 (CET 2020).

This masterplan outlines how to best enable all working adults regardless of their qualifications to continuously improve their skills and competencies throughout their career.

In line with this, came the introduction of the SkillsFuture programme. In part 1 of this article series, 'How to best use SkillsFuture credit to succeed in your career,' we looked at what the SkillsFuture credit is, and how Singapore citizens can make the most of it by investing in courses that will hone the most desirable skills that employers are looking for.

Knowing that there are initiatives out there that can help employees reach their full potential is a great start. And to stay ahead of the game, knowing where to best spend your money and time will lead you to a more informed decision.

The Ministry of Education (MOE) identified 17 growth sectors within the Polytechnics and ITE schools for the SkillsFuture programme. So in the second instalment of this article series, we'll look at 5 professions in Singapore that are expected to have the brightest outlook in 2020.

1. Biomedical Sciences

Over the years, Singapore has built stellar biomedical research capabilities through A*STAR. The institute also cultivates public-private partnerships that have paved the way for ground-breaking R&D and manufacturing activities.

Home of the 30 top biomedical sciences firms, the industry boasts $25 billion output in year 2014, and is expected to grow year on year.

This growth requires a talent pool that's strong in number. Demand for biomedical professionals are expected to be high in 2020.

If you're keen to be a part of this steadfast industry, check out the Biomedical Sciences courses being offered at Republic Polytechnic.

2. Aerospace Engineering

Asia Pacific's fleet is expecting a three-fold increase – that's about 13,500 aircraft by 2031. And Singapore is well ahead prepared for this.

The country has dominated the Asian aerospace market by providing 25% share of the region's Maintenance, Repair, and Overhaul (MRO) output. In 2012, the aerospace industry employed about 20,000 people, where 90% of them are skilled jobs.

If this statistics is not enough to convince you, perhaps the Airshow will, as Singapore plays host to over 270 delegates from 76 countries and regions and over 1,000 leading aerospace companies in the world.

Keen to know more about how you can kickstart your education in this industry? Check out the courses being offered at Temasek Polytechnic.

3. Offshore and Marine Engineering

Despite falling oil prices affecting the offshore and marine industries, Singapore's position as top global player for oil and gas drilling units and offshore support vessels remains strong.

Singapore's perspective on the future of the industry is bright due to global increase in energy demand. Emerging markets namely China and India have shown incremental energy demand from 2010 to 2040.

Singapore's unquestionable claim to quality and speed of delivery will see them through the ups and downs of oil prices. As most of the companies working harder now to make their operations lean – I believe that this will, in turn, create a more sustainable career by the time we hit 2020.

Find out what future-proof careers you can pursue in this industry through courses offered by Ngee Ann Polytechnic.

4. Food Technology

Singapore is an emerging hub for food science and nutrition. Professor Jeyakumar Henry of Clinical Nutrition Research (CNRC) states that as multinational food companies strive to penetrate the Asian markets such as China, India, and Indonesia, Singapore's multiracial population allows companies to have a research centre in a single location.

As the food and beverage market becomes more sophisticated and as the world population continues to rise, food manufacturing will require cutting-edge technology for packaging, shelf life evaluation, and market testing. The answer to this is a one-stop centre for food enterprises – Food Innovation and Resource Centre (FIRC).

If you're interested in exploring a career in one of the world's most important industry, read more about the programmes offered at the Singapore Polytechnic.

5. Digital Media

The ASEAN region expects 194 million new internet users between 2010 and 2020. Singapore, being the most network-ready country in Asia, makes an ideal regional hub for international interactive and digital media companies.

The country has also attracted leading broadcasting industries such as BBC World, CNBC Asia, Lucas Films, and Walt Disney.

In a recent study on Singapore's digital advertising conducted by PwC, limited supply of digital talent was highlighted. Hiring creative and analytical professionals has not been easy for digital media companies, and so creating a workforce ready for such demand is crucial to the success of this industry.

Fortunately, there are plenty of new media courses being offered in Singapore today. If the prospect of working in the media industry excites you, learn more about it through Nanyang Polytechnic.

The year 2020 is only five years away. Now we've looked at the jobs with the brightest outlook, and from the previous article, the most desirable work skills.

I hope this has helped you decide where to best spend your SkillsFuture credit to achieve your future career goals.