<TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR>June 6, 2009
HOW TO REMAIN INVESTORS' DARLING
</TR><!-- headline one : start --><TR>Attract right talent
</TR><!-- headline one : end --><!-- show image if available --></TBODY></TABLE>
<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->I REFER to Wednesday's article, 'Investors' darling needs makeover'. I think what Mr Robert McDonald, chief operating officer of Procter & Gamble, said in his interview is relevant in today's environment.
He has pointed out rightly that Singapore's lack of real research talent and high cost of living are major obstacles to our progress as a top-notch base for multinational corporations (MNCs) wanting to set up operations here.
Many of our real top talent have relocated to other countries which have given them the right environment and opportunities to advance their career and start a family. Salaries are often a few times higher than what they would get here if they return. It is not surprising then that many, after they get their PhD, choose to stay behind in a foreign land.
Mr McDonald also correctly pointed out that the high costs of doing business here will ultimately hurt us.
I have just returned from a trip to China where I discovered that many MNCs have set up shop in Shandong and Suchow. Both provinces have now developed infrastructures that can rival ours easily. The population is also chasing to keep pace on mastery of the English language. Many PhD holders have also returned from abroad as they find opportunities abound at home.
Singapore needs to continue to attract the right talent to boost our shortfall. It is important that we identify and attract those who will be here for the long haul rather than many who simply move on to other countries after a short stint here.
Corporate tax should be lowered further to make it more attractive for MNCs.
Singapore can also do more to develop local companies into giant corporations rivalling foreign ones already here. Too little is done to promote small and medium-sized enterprises (SMEs) to be big boys in their own arena. We will suffer greatly if more MNCs pull out and relocate to countries that can provide cheaper labour and better infrastructure. Gilbert Goh
HOW TO REMAIN INVESTORS' DARLING
</TR><!-- headline one : start --><TR>Attract right talent
</TR><!-- headline one : end --><!-- show image if available --></TBODY></TABLE>
<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->I REFER to Wednesday's article, 'Investors' darling needs makeover'. I think what Mr Robert McDonald, chief operating officer of Procter & Gamble, said in his interview is relevant in today's environment.
He has pointed out rightly that Singapore's lack of real research talent and high cost of living are major obstacles to our progress as a top-notch base for multinational corporations (MNCs) wanting to set up operations here.
Many of our real top talent have relocated to other countries which have given them the right environment and opportunities to advance their career and start a family. Salaries are often a few times higher than what they would get here if they return. It is not surprising then that many, after they get their PhD, choose to stay behind in a foreign land.
Mr McDonald also correctly pointed out that the high costs of doing business here will ultimately hurt us.
I have just returned from a trip to China where I discovered that many MNCs have set up shop in Shandong and Suchow. Both provinces have now developed infrastructures that can rival ours easily. The population is also chasing to keep pace on mastery of the English language. Many PhD holders have also returned from abroad as they find opportunities abound at home.
Singapore needs to continue to attract the right talent to boost our shortfall. It is important that we identify and attract those who will be here for the long haul rather than many who simply move on to other countries after a short stint here.
Corporate tax should be lowered further to make it more attractive for MNCs.
Singapore can also do more to develop local companies into giant corporations rivalling foreign ones already here. Too little is done to promote small and medium-sized enterprises (SMEs) to be big boys in their own arena. We will suffer greatly if more MNCs pull out and relocate to countries that can provide cheaper labour and better infrastructure. Gilbert Goh
