A S$3 million initiative by the Workforce Development Agency to advance the skill sets and career development of professionals in the retail industry has been announced.
It comes in the form of a Retail Marketing Degree Programme offered by SIM Global Education and the University of Sterling.
Some 90 retail degree scholarships will be awarded over three years starting 2012.
A direct beneficiary of the new degree scholarship programme will be existing Retail Workforce Skills Qualifications (WSQ) diploma holders.
Speaking at an industry seminar, Minister of State for Trade and Industry, Lee Yi Shyan, said given external competition and domestic constraints, Singapore’s retailers must quicken their pace of learning.
Beyond workforce training, they could look at adopting new business models, and step up product innovation.
He said the end outcome must be a profitable and internationally competitive retail industry with a highly skilled and well-paid workforce.
It’s the only way that Singapore’s retail industry will be able achieve sustainable growth and profitability, Mr Lee added.
Source: CNA.
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