Singapore needs global talent

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SINGAPORE will remain open to top international talent even as the country accelerates its economic transformation efforts and invests in and enhances connectivity to the city-state.

This is key as Singapore aspires to be the key nerve centre for businesses for trade, global supply and value chains, professional services, data, finance, technology, and talent said Minister of Trade and Industry Chan Chun Sing on Tuesday evening.

Mr Chan noted that there has been “much scrutiny” on the issue of international talent and noted that some companies are anxious.

This means Singapore will continue to bring in international talent in a calibrated manner even as foreign worker policies shift increasingly toward quality rather than quantity.

The Government is serious about discriminatory hiring practices, and has stated that it will work with companies to ensure that they adopt the best practices.

“We will also like to encourage all our companies to have a diverse workforce, and not overly rely on any particular source of labour from any particular foreign country. This is just part of good business continuity practices and it will also help us in our social integration.”

Building on connectivity in both the physical and non-physical domains is also key to ensuring Singapore’s viability as a hub, he said.

In addition to Changi T5, Tuas Mega Port and regional developments like Sungei Kadut Eco-District and Greater Southern Waterfront – which will continue with some adjustments to the timeline – this also means building deeper links with the world for markets, supplies, technology and talent, to enable businesses to access regional and global opportunities.

These include trade facilitation and multilateral frameworks; platforms like the Global Innovation Alliance and the Networked Trade Platform, and further economic integration with Asean.

Singapore will also accelerate economic transformation efforts, focusing on productivity, innovation and upskilling, he said.

Mr Chan also noted that Singapore remains open for business and that much has been done on the travel front to enable more business and leisure travel.

Ultimately, it is about positioning the country as more than just a gateway to the region, but as a hub.

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