Singapore Allots S$10 Million Education Fund To Attract More Foreign Enrollees
In an effort to attract more expats to complete their education in Singapore, SPRING Singapore, an agency established by the Ministry of Trade and Industry, will be investing SG $10 million in phases during the next three years for its “Education Innovation” program.
The program will fund Singapore’s Private Education Institutions (PEIs) to help them improve their facilities and curriculum to provide globally-competitive education in Singapore and meet the growing educational needs of its citizens—both locals and expats—today.
Singapore is facing an increasing competition with Hong Kong, China, and Japan private schools. This has fueled the Singaporean government to focus on boosting its strengths and weaknesses in the educational field.
According to Private Education Council director Remy Choo, one of the main goals of SPRING is to introduce new tools to smaller schools that are behind in terms of the technology used in school planning and management.
The grant will also be funneled to private institutions that are focused in providing high-quality education in the health-care and math and science field. It will also help PEIs set their future plans of overseas expansion in motion.
Singapore’s PEIs have helped elevate Singapore’s status as one of the higher education destinations in the Asia-Pacific region. The fund will help the PEIs gain more global recognition and advantage, especially in attracting foreign investors who are considering of relocating to Singapore with their family. Over 1,000 PEIs are expected to benefit from the said grant.
Based on government statistics, over 80,000 foreign students coming from 120 countries are enrolled in Singapore schools. Many of these students have already earned their college education and have headed to Singapore to take up a Master’s or Doctorate degree, or even take up a new university degree.
Most of these students are gunning for a spot at Management and Business schools such as the Singapore Institute of Management, the Management Development Institute of Singapore, and PSB Academy as well as major universities such as the Singapore Management University, the Nanyang Technological University and the National University of Singapore.