SMU, JP Morgan suggest 3 tasks to ease Singapore's skills shortage
Innovation-driven growth requires better use of technology and even less reliance on foreign workers, they say
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
SINGAPORE needs to do three things to tackle its skills shortage - cut its dependence on foreign workers by even more, ease the pace of change in industry policy and focus on soft and cross-job skills.
These three areas were identified by Singapore Management University and J P Morgan in a 155-page report titled "Managing Skills Challenges in Asean 5". In the part of the report focusing on Singapore, the local university and the global financial services firm noted that the number of foreign workers in the Republic has continued rising although their inflow was tightened five years ago. This reliance on foreign workers and the low productivity achieved "signal a lack of strong indigenous production capacity", they said.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
