http://www.straitstimes.com/Breaking+News/Singapore/Story/STIStory_383606.html
Don't over rely on foreigners
Mr Cedric Foo (left) made the point that Singapore cannot depend on an ever-increasing pool of manpower - one fuelled by increasing the number of foreign workers here. -- PHOTO: BUSINESS TIMES
AN F1 car's engine has a capacity of 2,4000cc, about the same as a high-end Toyota Camry model.
But while the Camry's engine generates 167 horsepower - a measure of how powerful a car is - the F1 car has 700hp and can reach top speeds of more than 400km an hour.
This is because the F1 car does not rely just on engine size, but on other factors such as better fuel systems and boosters to improve performance, Mr Cedric Foo (West Coast GRC) noted on Friday, using the car as an analogy for the economy.
His point: For Singapore's economy to grow, it cannot depend on an ever-increasing pool of manpower - one that is fuelled by increasing the number of foreign workers here.
It must find 'new levers' to push, he said, on the last day of the debate on President SR Nathan's speech at the opening of the latest session of Parliament.
Mr Foo's argument was similar to Manpower Minister Gan Kim Yong's reminder on Friday that there are limits to the overall size of Singapore's workforce.
'There is a natural limit to the size of the local workforce. There are also limits to the size of the foreign workforce given the constraints on our infrastructure and critical resources such as land,' he said. 'We should not become overly dependent on foreign workers.'
Another downside of being too reliant on foreign workers, according to Mr Foo, is that it reduces the urgency and motivation for local industries to upgrade and improve on productivity.
According to Manpower Ministry figures, there are about 1.05million foreigners in Singapore's workforce. Most of them - about 870,000 - are unskilled work permit holders, such as those who work in construction and domestic helpers.
Mr Gan said his ministry would support the newly-formed Economic Strategies Committee (ESC) in studying the issue of managing resources such as manpower.
Read the full story in Saturday's edition of The Straits Times.
Don't over rely on foreigners
Mr Cedric Foo (left) made the point that Singapore cannot depend on an ever-increasing pool of manpower - one fuelled by increasing the number of foreign workers here. -- PHOTO: BUSINESS TIMES
AN F1 car's engine has a capacity of 2,4000cc, about the same as a high-end Toyota Camry model.
But while the Camry's engine generates 167 horsepower - a measure of how powerful a car is - the F1 car has 700hp and can reach top speeds of more than 400km an hour.
This is because the F1 car does not rely just on engine size, but on other factors such as better fuel systems and boosters to improve performance, Mr Cedric Foo (West Coast GRC) noted on Friday, using the car as an analogy for the economy.
His point: For Singapore's economy to grow, it cannot depend on an ever-increasing pool of manpower - one that is fuelled by increasing the number of foreign workers here.
It must find 'new levers' to push, he said, on the last day of the debate on President SR Nathan's speech at the opening of the latest session of Parliament.
Mr Foo's argument was similar to Manpower Minister Gan Kim Yong's reminder on Friday that there are limits to the overall size of Singapore's workforce.
'There is a natural limit to the size of the local workforce. There are also limits to the size of the foreign workforce given the constraints on our infrastructure and critical resources such as land,' he said. 'We should not become overly dependent on foreign workers.'
Another downside of being too reliant on foreign workers, according to Mr Foo, is that it reduces the urgency and motivation for local industries to upgrade and improve on productivity.
According to Manpower Ministry figures, there are about 1.05million foreigners in Singapore's workforce. Most of them - about 870,000 - are unskilled work permit holders, such as those who work in construction and domestic helpers.
Mr Gan said his ministry would support the newly-formed Economic Strategies Committee (ESC) in studying the issue of managing resources such as manpower.
Read the full story in Saturday's edition of The Straits Times.
