The Singapore government has recently launched a new program that would provide training to small and medium enterprises (SMEs) from the manufacturing industry in an effort to boost the country’s economic growth.

The program, which was developed by the Singapore Institute of Manufacturing Technology (SIMTech), will focus on providing managers from SME with trainings that would raise productivity and promote “excellent business operation”.

“The program Operations Management Innovation (OMNI) has been tested by several organizations which can provide a testimony on its effectiveness”, SIMTech executive director Lim Ser Yong said in a statement.

“We [SIMTech] are happy that our research investment is now being applied by SMEs to promote productivity and make every business operation efficient with the use of the latest technology”, Lim added.

Aside from the classroom training, the program’s participants will “enjoy mentorship by SIMTech’s professionals.”

Lim said that any Singapore company will have the “opportunity to apply the trainings directly to their companies under the guidance of a professional mentor who can lead them during the learning process.”

After completing the OMNI training, participants may take another program if they want to obtain the Graduate Diploma in Manufacturing Operations Management.

The project is run by the Precision Engineering Workforce Skill Qualification which is under the Singapore Workforce Development Agency (WDA).

Several local enterprises have recently signed up with the new program including the Maha Chemicals, Kim Hiap Lee, Fong’s Engineering & Manufacturing, and Hitech Heat Treatment Services.

To encourage SME owners to enroll their managers and high-raking employees to the program, WDA will cover 70 percent of the training fee and provide absentee payroll.

WDA said that companies can increase their annual productivity up to 5 percent through the training and mentorship under the program.

Meanwhile, Trade and Industry Lim Hng Kiang said the manufacturing sector will play an important role in Singapore’s economy for the next coming years despite “stiff competition from other emerging markets especially those which offer cheaper labor costs.”

“Singapore’s products are based on trust and quality which make the country successful in the manufacturing industry and exporting activity”, Lim added.

However, the manufacturing industry and the country’s overall economy are facing a shortage of Singaporean workers which must be addressed immediately to prevent the “labor market from overheating, Prime Minister Lee Hsien Loong was quoted saying.

To encourage more foreign workers, investors, and businessmen and to prevent the collapse of the labor market, the government has recently signed several laws such as the Singapore Employment Pass and the Singapore EntrePass.