Expected Number of PMET Jobs Created for Singaporeans from Recent Alibaba, Tencent and ByteDance Investments and Benefits Accorded to These Companies

Mr Leong Mun Wai asked the Minister for Trade and Industry (a) what is the expected number of PMET jobs to be created for Singaporeans from the Alibaba, Tencent and ByteDance investments committed recently; and (b) what benefits have been accorded to these companies such as tax concession, subsidies and grants, residency and citizenship rights.

In 2020, Tencent announced plans to set up its regional hub for Southeast Asia in Singapore, while Alibaba and Bytedance took on additional commercial space to support their expansion. These recent investments were not awarded incentives by our economic agencies.

These recent investments are projected to create at least 1,000 new PMET jobs over the next five years. Many of these jobs will be in both new and established roles Singaporeans are equipped for such as data science, data analysis and business development.