SINGAPORE, Aug 8 (Reuters) – The Singapore govt will change overseas worker insurance policies to handle problems between locals around competition for work opportunities, even as the international company hub stays open to expertise from overseas, its key minister explained on Sunday.
“We have to adjust our insurance policies to take care of the high quality, numbers and concentrations of foreigners in Singapore,” Lee Hsien Loong stated in his Nationwide Day Information. “If we do this perfectly, we can proceed to welcome foreign workers and new immigrants, as we have to.
International labour has long been a scorching button problem in Singapore, but uncertainties owing to the COVID-19 pandemic have increased work anxieties between locals as the metropolis-condition recovers from past year’s history economic downturn.
The concern was also highlighted by opposition events through final year’s standard election campaign as they mounted a historic obstacle to Lee’s People’s Action Celebration, which has dominated Singapore considering that its independence in 1965.
Just underneath 30% of Singapore’s 5.7 million populace are non-residents, up from all over 10% in 1990, according to govt stats.
Lee warned that turning inwards would hurt Singapore’s standing as a global and regional hub. “It would value us positions and alternatives.”
His governing administration has been tightening overseas employee policies for several decades when taking steps to market local selecting, like by raising the salary threshold for issuing do the job permits.
The quantity of folks residing in Singapore declined .3% very last calendar year, the initial fall due to the fact 2003, as journey curbs and occupation losses brought about by the pandemic pushed international employees from the country.
Reporting by Aradhana Aravindan in Singapore Modifying by Kirsten Donovan
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