Singapore’s Economic Development Board (EDB) believes that it is not just about increasing job opportunities but also to promote more business and tourism related services.
Positioning Singapore as a cargo and logistics hub seems to have its own allure to foreign investors.
However, the challenge would definitely be in how we ensure Singapore is cost effective to these investors as well as the availability of manpower to support the projected growth.
Singapore having a stable government, economy and infrastructure has surely positioned us well against competition from Kuala Lumpur and Bangkok.
However, to remain ahead we would surely need to work-out measures that rebalance our reliance on foreign manpower.
Based on the current labour situation in Singapore, it is evident that for certain sectors there has been an absolute lack of local talents.
Increasingly, we have heard horror stories from companies that are unable to take-up new projects as they have been unable to find the right people locally.
Many of which we have spoken to were even unable to find suitable talents to fill current vacancies.
What do you think? Is Singapore just over reliant on foreign talents? Or are we in a situation where there simply aren’t enough local talents or workers that are willing to fill these positions?
Do we need to revise our foreign manpower policies to take full advantage and prosper from T5’s potential? Leave a comment for us on your thoughts…