China tech firms’ entry brings ‘bonanza’

TECH firms, including those from China, have added heat to the talent war in Singapore – but industry players and academics to whom Lianhe Zaobao spoke felt that although this creates short-term pressure, it also creates more long-term opportunities for the country.

Huang Yishu, founder of IT specialist recruitment agency Dada Consultants, said that his business had suffered in the last 2 years as companies retrenched workers or even wound up due to the pandemic. “If not for the arrival of the tech giants in the last 2 years, it would have been hard for my company to endure,” he said.

He thus believes that while Chinese tech companies have brought about more competition in Singapore, they have also brought new opportunities for small and medium-sized enterprises (SMEs) amid the profound impact of the pandemic.