FOREIGN TALENT ECONOMIC GROWTH
Singapore – Defence Minister Ng Eng Hen has said too many restrictions on foreign talent will stunt Singapore’s competitive advantage.
Speaking to reporters at a community event, Ng said while the balance between economic growth and foreign labour is hard to reach, the key lies in public support.
"The balance depends very much on what Singaporeans are willing to support. Because if you tighten [inflow of foreign labour] too much, your jobs are at risk - and not only your jobs, because you become less competitive,” Ng said.
“For example, in essential services, we need people to build our homes, man our hospitals, so on and so forth. Your quality of life will be affected."
Today reported the Singapore government estimates the economy contracted 1.1% in the second quarter of this year, but Trade and Industry Minister Lim Hng Kiang said except for a decline in the euro zone crisis, Singapore's full-year economic growth is on track to reach the official forecast of between 1% and 3%.
Ng added locals and new citizens need to better integrate with the rest of the community, and described it as a two-way street.
"We have to be open - for those of us who have been here longer. And for new citizens, they also have to step forward. So if one side remains open, the other side takes the initiative ... that will make it much faster," Ng said.
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