SINGAPORE, Sept. 14 (BNA): Singapore hopes the special work visa will make Singapore more competitive in attracting “the world’s rain makers,” the manpower minister said, while striving to balance its need for talent and lack of Domestic satisfaction regarding expatriates. Workers.
The regional financial center announced new rules two weeks ago to attract expatriates who earn at least 30,000 Sudanese pounds (US$21,452) a month, and give them five-year visas that automatically allow their spouses to work as well, Reuters reports.
Manpower Minister Tan Si Ling told parliament that global talent would help Singapore develop sectors such as sustainability, artificial intelligence or financial technology, but that it faced a challenge with other countries “playing an offensive game”.
“When we talk about top talent, we have to keep in mind how global they are, and how tough the competition is for them,” Tan said.
Britain, Australia and Germany have launched similar programmes, while Malaysia and Thailand are closer to home, also offering long-term incentive visas to foreigners with specialized experience who earn above a certain income limit.
Singapore has seen local workforce resentment over the number of foreigners working in the country, with concerns that many well-paid jobs are being filled by expats.
The government has sought to allay these concerns, however, asserting that foreign talent being drawn to Singapore will help “create a variety of opportunities for Singaporeans”.
Tan said Singapore will also develop its own talents and upgrade the skills of its workforce, while giving Singaporeans global and regional expertise so they can take leadership positions in global companies.
Singapore’s central bank chief said in May that the country’s financial sector is creating more jobs than local employees can fill, and warned that a “Singaporean only” approach would be fatal to the country as a global financial hub.