Singapore’s new work pass is among several initiatives to strengthen its position as a global talent hub.
Known as the Overseas Networks and Expertise Pass, it is the nation’s card up its sleeve to attract the world’s best and brightest across all sectors to its shores.
Applicants will need to earn a fixed monthly salary of $30,000 and above, which is comparable to the top 5 per cent of Employment Pass (EP) holders.
To appease Singaporeans, Deputy Prime Minister Lawrence Wong said the Government will “redouble” its efforts to develop and support workers while keeping the economy open.
Speaking at the Singapore Economic Policy Forum on 18 Oct, Mr Wong, who is also the Finance Minister, said Singapore’s “twin strategy” is to stay open and develop local.
He said in Singapore’s strategy to keep the economy growing, that growth is inclusive, in a more uncertain global economic environment.
But to “get rid of more foreigners” to reclaim jobs for Singaporeans is “fatally flawed” as those jobs will not automatically go to Singaporeans, he said.
In our weekly series Unwrapped, TheHomeGround Asia takes a closer look at major stories and happenings that impact Singaporeans.
We discuss if this new pass will be a thorn on the side of local employers and employees alike despite reassurances from the government that the Singaporean worker will not be cast aside or become redundant.