Singapore to tweak international employee insurance policies amid native process issues
SINGAPORE, Aug 8 (Reuters) – The Singapore executive will modify international employee insurance policies to handle issues amongst locals over festival for jobs, whilst the worldwide trade hub stays open to skill from in a foreign country, its high minister mentioned on Sunday.
“We have to adjust our policies to manage the quality, numbers and concentrations of foreigners in Singapore,” Lee Hsien Loong mentioned in his National Day Message. “If we do this well, we can continue to welcome foreign workers and new immigrants, as we must.
Foreign labour has long been a hot button issue in Singapore, but uncertainties due to the COVID-19 pandemic have increased employment worries among locals as the city-state recovers from last year’s record recession.
The issue was also highlighted by opposition parties during last year’s general election campaign as they mounted a historic challenge to Lee’s People’s Action Party, which has ruled Singapore since its independence in 1965.
Just beneath 30% of Singapore’s 5.7 million inhabitants are non-residents, up from round 10% in 1990, in keeping with executive statistics.
Lee warned that turning inwards would harm Singapore’s status as a world and regional hub. “It would value us jobs and alternatives.”
His government has been tightening foreign worker policies for several years while taking steps to promote local hiring, including by raising the salary threshold for issuing work permits.
The number of people living in Singapore declined 0.3% last year, the first drop since 2003, as travel curbs and job losses brought about by the pandemic pushed foreign workers from the country.
Reporting via Aradhana Aravindan in Singapore; Editing via Kirsten Donovan
Our Standards: The Thomson Reuters Trust Principles.