▲ Up
 
14:19 30-09-2016
MAIN АКИpress CA-News
About us On-line subscription
KazakhstanKyrgyzstanMongoliaTajikistanTurkmenistanUzbekistanWorld
POLITICSBUSINESSINCIDENTSSOCIETYCULTURESPORTANALYSISSCIENCE
Singapore risks its business-friendly reputation with foreign labor restrictions

Bishkek (AKIpress) - Singapore Singapore risks its business-friendly reputation by implementing new labor laws that require companies to prioritize hiring locals over foreigners for middle income jobs, The Star reports.

Large and medium-sized companies looking to hire workers with a monthly salary below $9,640 must now advertise the positions on a government-run online job database that only Singapore citizens and permanent residents can apply through.

The job must stay open to locals for two weeks before the company is allowed to seek foreign candidates.

Many multinational corporations, from Google and Microsoft to Procter & Gamble and BP, use Singapore as their regional headquarters, attracted by the city state's political and economic stability, low taxes and ability to attract talent from across Asia and the world.

Foreigners make up around 38 percent of Singapore's 3.4 million strong workforce and the new rules are the latest in a series of government measures aimed at easing locals' worries about the growing presence of foreigners on the island.

Concerns about jobs were one of the most prominent issues raised by voters at the 2011 general election, which was the most contested since Singapore's independence.

Economists believe the foreign labor restrictions could tarnish the city-state's reputation as an open and free economy.

Ten of 12 recruitment agencies said filling vacancies has become tougher in the past year, a trend set to continue. Several recruiters say they expect a rise in companies moving certain departments offshore, with IT and manufacturing the most likely sectors to be affected.


Twitterfacebookprint
16:39 06.08.2014
LATEST NEWS
14:11 Switzerland to allocate additional funding for elections in Kyrgyzstan14:08 Ombudsman inspects Bishkek specialized children's house14:03 Internet prices could increase in Kyrgyzstan by 127% if Kazakh providers raise tariffs12:41 OSCE representatives discuss women’s empowerment in Armenia, Moldova and Tajikistan12:38 No way of reducing electricity tariffs in Kyrgyzstan this year, energy committee head says12:29 Ashgabat hosts Uzbek Cinema Days12:09 Tajik Ambassador presents credentials to President of Poland11:55 Nazarbayev checks construction of longest bridge in Central Asia11:41 Interim president Shavkat Mirziyoyev sends condolences to Israli leadership over death of ex-president11:25 Kyrgyzstan imports 147.1 mln m3 of natural gas in 201611:24 Rahmon, Foreign Minister of Uzbekistan discuss Tajik-Uzbek relations11:12 Hoboken train crash in New Jersey kills 1, unjures 11411:00 SDPK faction asks Constitutional Chamber to check constitutionality of referendum bill10:57 Kyrgyzstan listed among countries with decreasing infant mortality — UNICEF10:57 Number of China-Europe container trains transiting through Kazakhstan has increased more than twice10:50 World leaders gather in Israel for Shimon Peres funeral10:48 Referee from Kyrgyzstan to officiate final match of FIFA Futsal World Cup in Colombia10:31 Minister Boronov partakes in meeting of CSTO Emergency Situations Council in Yerevan10:20 EU ready to provide 36 million Euros grant for education sector reform in Kyrgyzstan10:19 Afghanistan Ambassador finishes his diplomatic mission in Kyrgyzstan
Astana
+8° C
Ashgabat
+18° C
Bishkek
+15° C
Dushanbe
+23° C
Tashkent
+20° C
Ulaanbaatar
+15° C
exchange rates
 
76.19
67.93
10.27
1.08
375.52
334.93
50.23
5.30
6.85
6.26
1.01
0.12
3286.53
2888.39
446.81
42.81
3.93
3.50
0.52
0.06

© AKIpress News Agency - 2001-2016. All rights reserved
Republication of any material is prohibited without a written agreement with AKIpress News Agency. Any citation must be accompanied by a hyperlink to akipress.com.
Our address:
Moskovskaya str. 189, Bishkek, the Kyrgyz Republic
e-mail: english@akipress.org, akipressenglish@gmail.com;
Tel/Fax: +996(312)90-07-75