The city-state unemployment rate has peaked at 10 years in recent months, despite government spending of around S$100 billion ($73. 47 billion) on aid measures to offset the effect of COVID-19 on its open economy.
Employment concerns have diverted attention from their higher levels of immigration, a factor highlighted through opposition parties in July’s general election, in which they introduced a historic challenge to the ruling party’s uninterrupted control of power.
“Even if we adjust our redress policies, we will have to be careful not to give the false impression that we are now definitive and no longer welcome foreigners,” Lee Hsien Loong said in a passionate speech of just two hours in parliament.
“We may be under pressure now, but we can’t turn to ourselves. “
Lee’s government, which has been restricting the influx of foreigners for several years, is taking more steps to publicize local procurement. Last week, he raised the wage threshold for issuing paint passes to foreigners, the moment is piling up this year.
Singapore’s business-friendly political stability and policies have long attracted investment from global companies.
Lee said a pharmaceutical company, which he did not name, sought to build a vaccine production plant in Singapore and that several Fortune 500 corporations would relocate their regional headquarters to the city-state.
Financial corporations also sought to expand, adding up their generation operations.
“But for them to come here, they want to feel welcome and bring the skill they want,” he added.
Last month, the government put 47 corporations on a watch list for conscription practices imaginable that discriminate against residents.
Online vitrilum foreigners led state investor Temasek to report “racist” messages to his employees.
This story was published from a firm thread without converting the text.
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