The issue of foreign talent cropped up again recently during Prime Minister Lee Hsien Loong’s National Day speech. He urged Singaporeans to welcome new citizens and make them feel part of the community.
This is followed a few days later by MM Lee Kuan Yew who reiterated the importance of having more foreign workers to sustain the economy.
While few can deny the fact that Singapore needs foreign labor to maintain our current competitiveness and growth rates, there were concerns that our Permanent Residency (PRs) and citizenship are granted too easily thereby leading to a depreciation of its intrinsic value.
There are now 1.68 million foreigners in Singapore, making up almost a third of the population. The rapid influx of foreigners have inflated the cost of living including housing, transport and food over the last few years.
Foreigners are also blamed, rightly or wrongly, for snatching away the rice-bowls of Singaporeans who are not entitled to a minimal wage or retrenchment benefits. The median wage of the lowest income group has stagnated and even shown a decline in the past decade.
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http://temasekreview.com/?p=11968
This is followed a few days later by MM Lee Kuan Yew who reiterated the importance of having more foreign workers to sustain the economy.
While few can deny the fact that Singapore needs foreign labor to maintain our current competitiveness and growth rates, there were concerns that our Permanent Residency (PRs) and citizenship are granted too easily thereby leading to a depreciation of its intrinsic value.
There are now 1.68 million foreigners in Singapore, making up almost a third of the population. The rapid influx of foreigners have inflated the cost of living including housing, transport and food over the last few years.
Foreigners are also blamed, rightly or wrongly, for snatching away the rice-bowls of Singaporeans who are not entitled to a minimal wage or retrenchment benefits. The median wage of the lowest income group has stagnated and even shown a decline in the past decade.
Read rest of article here:
http://temasekreview.com/?p=11968