Singapore Relies on Foreign Talent Amid Labor Shortage

Singapore Relies: Facing a dwindling birth rate, Singapore grapples with a labour shortage, prompting the government to seek foreign workers. Deputy Prime Minister Lawrence Wong stressed the necessity of foreign talent in light of sluggish population and resident workforce growth, particularly in vital sectors like the digital economy.

Wong acknowledged the significant role of work-permit holders, comprising a sizable portion of the foreign workforce, often filling positions that locals are reluctant to take.

Singapore Relies on…

With Singapore’s historically low total fertility rate plummeting to an estimated 0.97% in 2023, alternative solutions are imperative to sustain economic momentum.

Highlighting Singapore’s robust system to regulate both the quality and quantity of work-pass holders across all job levels, Wong underscored the nation’s unique challenges as a resource-scarce island nation, emphasizing the importance of self-sufficiency.

In parliamentary discussions, Leader of the Opposition Pritam Singh stressed the importance of pursuing sustainable growth, echoing previous government sentiments about the necessity to slow down growth.

Wong concurred, emphasizing the current focus on sustainable development, addressing infrastructure needs, and adapting planning strategies to meet evolving challenges.

As Singapore navigates its labour shortage amidst demographic shifts, the government’s emphasis on attracting foreign talent underscores the nation’s commitment to maintaining economic vibrancy and resilience in the face of evolving global dynamics.

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