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Speaking at the NTU’s annual ministerial forum yesterday (28 Jan), PM Lee told 1,200 undergraduates that more foreign professionals are needed in Singapore over the years because the economy has grown and there aren’t enough Singaporeans to fill the jobs available.
He was responding to a student who asked when Singapore could slow down the influx of expatriates here.
Mr Lee said, “Why are there so many (foreign professionals)? Because my economy has grown. I’ve created all these jobs. I don’t have Singaporeans for all of them.”
“Can I do with fewer? Maybe. Can I replace some with Singaporeans as they get trained? I hope so. If I send all of them home, will I be sorry? Yes, and I’m sure you will be too because you will not go to that job,” he said.
Reiterating what his government has been saying all along, he said that this foreign talent policy creates new jobs for Singaporeans instead of taking them away from locals.
He cited the example of a bank CEO who may not be a citizen but runs a bank that creates thousands of jobs. “You put the wrong CEO there, the bank goes bust, thousands lose their jobs,” he added.
However, according to a survey conducted by recruitment firm eFinancialCareers in October last year, large number of companies in the finance industry are actually discriminating against Singaporean hires. According to the survey, a majority or 52% of the respondents said their companies had favoured foreigners for some job openings (‘Survey confirms rampant job discrimination against SGs‘).
In fact, the situation was so bad that 2 Cabinet Ministers had to have a “friendly talk” with senior members of the financial industry on this matter. Acting Manpower Minister Tan Chuan-Jin told Parliament in March last year that...http://www.tremeritus.com/2014/01/29/pm-youll-be-sorry-too-if-i-send-all-fts-home/
He was responding to a student who asked when Singapore could slow down the influx of expatriates here.
Mr Lee said, “Why are there so many (foreign professionals)? Because my economy has grown. I’ve created all these jobs. I don’t have Singaporeans for all of them.”
“Can I do with fewer? Maybe. Can I replace some with Singaporeans as they get trained? I hope so. If I send all of them home, will I be sorry? Yes, and I’m sure you will be too because you will not go to that job,” he said.
Reiterating what his government has been saying all along, he said that this foreign talent policy creates new jobs for Singaporeans instead of taking them away from locals.
He cited the example of a bank CEO who may not be a citizen but runs a bank that creates thousands of jobs. “You put the wrong CEO there, the bank goes bust, thousands lose their jobs,” he added.
However, according to a survey conducted by recruitment firm eFinancialCareers in October last year, large number of companies in the finance industry are actually discriminating against Singaporean hires. According to the survey, a majority or 52% of the respondents said their companies had favoured foreigners for some job openings (‘Survey confirms rampant job discrimination against SGs‘).
In fact, the situation was so bad that 2 Cabinet Ministers had to have a “friendly talk” with senior members of the financial industry on this matter. Acting Manpower Minister Tan Chuan-Jin told Parliament in March last year that...http://www.tremeritus.com/2014/01/29/pm-youll-be-sorry-too-if-i-send-all-fts-home/