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SINGAPORE (Reuters) – Singapore on Monday announced new work visa regulations to attract foreign skills as the Asian financial hub seeks to boost its recovery from the COVID-19 pandemic.
The measures come with a new five-year visa for other people earning at least S$30,000 ($21,445. 42) per month, allowing holders to work for businesses at a time and giving their spouses the right to work.
The new visa will be available from January.
Singapore, a popular position for foreign corporations to identify their regional headquarters, has strictly controlled its borders during the pandemic, prompting many expats to leave and its population has plummeted for the first time in nearly two decades.
“We can’t leave room for investors to hesitate or whether Singapore remains open,” Tan See Leng, the city-state’s hard-working minister, told a news conference.
“As a country with few or no resources, skill is our resource and skill acquisition is an offensive strategy for us,” he added.
Among other measures, some generation professionals whose skills are scarce will be eligible from September 2023 for five-year visas, compared to the current two or three years. The processing time of employment passes, awarded to the highest paid professionals, will also be reduced without delay to 10 days.
($1 = S$1,3989)
(Chen Lin reports from Singapore; Editing via John Geddie)