The Business Times
business-time-50

Staying open is how Singapore can compete, grow and stay relevant

Summarise
google-preferred-sourceAdd BT as a preferred source
    • Let Singapore shine as an example of how a highly skilled local workforce can thrive alongside a complementary foreign workforce, working together to expand the economic potential of the Republic.
    • Let Singapore shine as an example of how a highly skilled local workforce can thrive alongside a complementary foreign workforce, working together to expand the economic potential of the Republic. PHOTO: CMG

    Kok Ping Soon

    Published Mon, Apr 21, 2025 · 07:22 PM

    AS SINGAPORE grapples with a shrinking local workforce and rising business demands, how can we remain open to foreigners while addressing concerns over job security, social integration and infrastructure strain?

    The need for foreign talent to support our economic growth is an undisputed hard truth, made more acute by our declining birth rates and rapidly ageing population.

    In 2014, there were six working-age residents supporting each elderly resident aged 65 and above. By 2024, this fell to 3.5. Including foreign workers raises this support ratio to 5.2, highlighting their essential role in augmenting the local workforce and keeping our economy going.

    Singapore manpowerforeign talent

    TRENDING NOW

    Tribunal Magistrate Jared Kang described dismissal law as “a little more layered, difficult and unclear than it perhaps needed to be”.

    Firm loses wrongful dismissal case despite following termination clause

    The Vietnamese economy has long relied heavily on bank lending, straining commercial banks as they shoulder the bulk of the financing needed by companies and large infrastructure projects.

    Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks

    UOB’s asset quality was a recurring theme across all broker notes.

    Citi, OCBC downgrade UOB post-Q2 results; RHB upgrades on valuation

    Soilbuild and its executive chairman Lim Chap Huat are reportedly seeking unspecified damages over Brookfield’s alleged breach of their agreement.

    Soilbuild’s Lim Chap Huat sues Brookfield, claims it reneged on joint venture: WSJ

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More