Singapore has introduced the Overseas Markets Immersion Programme to prepare its workforce for international opportunities. The initiative aims to provide employees with hands-on experience in global markets, supporting the government’s goal of fostering a globally- competitive workforce.
Companies participating in the programme can access subsidies for up to nine months. Under the scheme, firms can receive up to 70 per cent of an employee’s salary and 70 per cent of their overseas allowance.
The salary subsidy is capped at SGD 5,000 (approximately USD 3,700), while the overseas allowance subsidy is capped at SGD 3,000. The total subsidy amount a company can claim for each participating employee is up to SGD72,000.
This programme is a collaborative effort between Workforce Singapore (WSG) and the Singapore Business Federation (SBF). The SBF, as the inaugural partner, will work closely with businesses to develop personalised training plans for employees, ensuring they gain the right skills and experience for navigating overseas markets.
To support the programme, WSG has set aside SGD 16 million for its first phase. The initiative marks an important step in equipping Singapore’s workforce with the expertise needed to thrive in international business environments.
By offering significant subsidies covering both salary and overseas allowances, the initiative reduces the financial burden on companies looking to expand their workforce’s global competencies. Employees participating in the programme will gain valuable hands-on experience in diverse markets, enhancing their ability to navigate complex international business environments.
This initiative is expected to equip Singapore’s workforce with the necessary skills to drive innovation and global growth, fostering stronger connections between local businesses and international markets.
