Singapore risks business cred with foreign labour restrictions
By By Rujun Shen | Reuters – 19 hours ago
ricky l • Remove
I think when we are attracting foreign investors to our shore, we are looking for a Win-Win solutions in the investments.Reply
(1) Foreign Investors - will have opportunity to find business in our environment and make profit from it - through our favorable tax policies, good infrastructure, good access to our market as well as to regional market - and thus earn good profit and good revenue.
By doing so Foreign Investors should also provide jobs to Singaporeans, contribute to Singapore's GDP - by fulfilling their side of the bargain.
Only then there will be a "Win-Win" solution.
Only then Singapore will welcome Foreign Investors to our shore - being a responsible foregin investors.
If a foreign investor want to reap all benefits for themselves - and do not want to provide jobs to local Singaporeans - thus posing political difficulty to Singapore, then Singapore should not attract this type of foreign investors - but should actively scout and source for those foreign investors that want to strive for "Win-Win" solution - by earning their profit but also provide jobs to local Sinaporean and contribute to Singapore GDP.
Thus we need to be selective in attracting foregin investors - not one that bring in full load of foreign workers at the expense of Singaporeans and strain our infrastructure and create tension in our Society.
Singaporeans should be given priority first for jobs - and only when Singaporeans got their jobs, then should consider open up to foreigners to supplement the workforce.
Not the other way round, foreginers first for job in our Country while Singaporeans are marginalised and stay unemployed for a long time despite with the relevant skillsets and experienced.
ricky l • Remove
Whether Democratic countries nor any other political systems - providing jobs to their Citizens is the top priorities - because it will ensure political, social and economic stability and foster prosperity.
Political Stability - Citizens have jobs - they can raise their family, they will be supportive of the Government.
Social Stabilty - Citizens have jobs - will not cause social tension.
Economic Stability - will lead to Consumer spendings - will contribute to the GDP and create multiplier effect. With higher GDP, higher budget surplus, more infrastructure development.
So who in the right mind - are not expecting foreign investors to help to provide jobs to Citizens - but come here to reap all the benefits of good profits, favorable tax, access to market - but yet bring in foreign workers - and kick Singaporeans out of jobs - ie. have both the cake and eat it?
Then we will not want this type of foreign investors - and we should look for responsible foreign investors who know the rule of the games.
ricky l • Remove
Maybe to spread the risk on foreign investments - should attract other foreign investors from China, Latin America, and other investors that have the dollars willing to share our philosophy of investments.
ricky l • Remove
Eg. Singapore can attract :-
(1) IT companies like :-
- China Alibaba
- Huawei
- Use more open sources like linux server, openoffice, etc,
(2) Banks from China are cash rich
Banks from Latin America like Brazil
etc to replace those IT and banks foreign investors who want to move off-shore.
Always good not to put all eggs in one basket - must try to spread the investment risk.
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ricky l • a second agoRemove
ricky l • Remove
New MOM department to probe discrimination complaints
Published on Jul 31, 2014 8:13 PM
The Manpower Ministry (MOM) has set up a new department to probe complaints that bosses prefer foreigners instead of Singaporeans. -- PHOTO: ST FILE
By Toh Yong Chuan
SINGAPORE - The Manpower Ministry (MOM) has set up a new department to probe complaints that bosses prefer foreigners instead of Singaporeans.
The Fair Consideration Department, headed by a director-level senior official, will also "engage firms across different industry sectors to better understand their human resource practices and efforts to develop Singaporeans professionals, executives and managers (PMEs)", the ministry said in a blog post on Thursday.
It made the announcement one day before new rules kick in on Friday, which require firms to consider Singaporeans for PME jobs before hiring foreigners. They are required to advertise in a government-run national jobs bank before they can apply for employment passes for foreigners to fill the vacancies.
The new rules, called the Fair Consideration Framework, is part of a broader move by the MOM to ensure that Singaporeans are given fair employment, promotion and training opportunities. It comes on the back of a slow-down in the inflow of foreign workers after Singaporeans complained that foreigners are taking away good-paying PME jobs from locals.
ricky l • Remove
The above reports demonstrate that our hospitality has been exploited and manipulated.
ricky l • Remove
Eg. when our companies invested in Foreign Countries like US, Australia, China etc - did we not employ their local workers and provide their local jobs?
Yes we did, we did not bring whole load of Singaporeans into their Countries and take away the local jobs as a responsible local investors - in return we are given access to their market and earn our profit.
Same thing here, when foreign investors invest here, we expect them to reciprocate - by earning profits and access to the market - but give Singaporeans jobs - not bring the whole chink gang of foreign workers and take away the jobs from Singaporeans.
ricky l • Remove
This is the Win-WIn deal from Foreign Investment - and not what is reported by this Yahoo article - threaten to move offshore - the moment we want to provide jobs to Singaporeans who are unemployed or who did not get a fair share of opportunities to the good paying jobs - but are given to foreigners due to discrimination right in our Land.
ricky l • Remove
During our earlier years of Nation Building, where at that time PM Lee Kuan Yew - year after year - in National Day Rally and in periodic news - will always emphasize good jobs - good pay - good standard of living.
This has always the winning formula for the Government.
This formula must never be forgotten.
And definitely, we must not play into the hands of foreigner investors - who only have their profit in mind - but does not want to care about Singaporeans well being here - and derail our Successful Formula.
