Singapore's answer to foreign competition in the local job market cannot be to shut its doors and turn away investors. Instead, the country has to - and will - invest in its people, working to mitigate the downsides of an open economy and striving for growth that will benefit all.
This was the gist of a 10-hour parliamentary debate that ended past midnight, during which four political office-holders rebutted the Progress Singapore Party's (PSP's) assertion that the Government's foreign talent policy has cost citizens jobs.
Finance Minister Lawrence Wong acknowledged that an open economy has its downsides, even though the vast majority benefit.
"In the end, the government has the responsibility to govern and to make policy decisions in the best interest of all Singaporeans," he said. "Some decisions will not be so popular, even though we are convinced they are necessary, and must proceed for the good of all."
https://www.straitstimes.com/singap...iament-over-foreign-competition-in-job-market
This was the gist of a 10-hour parliamentary debate that ended past midnight, during which four political office-holders rebutted the Progress Singapore Party's (PSP's) assertion that the Government's foreign talent policy has cost citizens jobs.
Finance Minister Lawrence Wong acknowledged that an open economy has its downsides, even though the vast majority benefit.
"In the end, the government has the responsibility to govern and to make policy decisions in the best interest of all Singaporeans," he said. "Some decisions will not be so popular, even though we are convinced they are necessary, and must proceed for the good of all."
https://www.straitstimes.com/singap...iament-over-foreign-competition-in-job-market