” The fact is that often people get worried when the pace of change is so hard, but it’s true. We are connected. We are a world economy. We’re connected to the world. We are a very empty economy and the fact is that when another places move quickly, we move in tandem, then we get left about,” he said.
In some of the businesses Singapore wants to tilt to, there is a time when the experience is lacking and there will be a higher number of foreign professionals around, while Singaporeans are being trained in those ability sets.
” I think it’s really a very natural kind of happening… What we try to do as a state is to make sure that we invest substantially in reassuring our native people and… educating them, giving them the methods, the fortitude to train, to teach, to reskill themselves, so that they are ever-ready,” said Dr Tan.
” I think the key thing is to make sure that they have the assurance that the state is with them every single step of the way. “
Another speaker asked whether Singapore may decrease its reliance on foreign workers.
” It is a compromise, and a very sensitive equilibrium,” he said.
While the state has offered offers and bonuses for companies to concentrate less on international workers, this change can be difficult. Eventually, a business type that relies on low employment costs is not responsible, as living expenses in the staff ‘ home nations are even rising, Dr Tan said.
” In fact, today many of the international workers that work around for a while, after a while, they leave for the Middle East. They leave for other places, for green meadows,” said the Manpower Minister.
The government has rolled out plans, offers and incentives to incentivise businesses towards greater efficiency, and likewise started an Alliance for Action on business competitiveness.
” There will be some measures that we’ve adopted to see how we can help, particularly our SMEs, to improve their competitiveness,” said Dr Tan.