Although Singapore's population growth is one of the lowest in the entire region, foreign and non-local population is on the rise thanks to rapid growing number of PRs and immigrants. Now, many locals are feeling the pressure of losing the tide to cheap foreign labour.
An island-nation of 5 million people may soon swell, demographic balance may soon turn into a nightmare if the government cannot cope up with the challenges of handling this delicate situation.
Here is an excerpt of our featured commentary recently posted in the Singapore Business Review:
"The rapid influx of foreign workers from neighbouring countries has become a sensitive immigration and economic issue that left some Singaporeans divided as to how to manage the situation. Curtailing the increase of foreign labour force by implementing stringent laws in approving work pass and permanent resident applications may hurt Singapore's industries dependent on foreign talents.
But economists know that the key to the country's economic success is its capability to attract foreign investments and capital. Without technical know-how and skilled labour from its neighbours, Singapore would have a hard time keeping up with the demands of running its country like a well-oiled machine."
Read the full article here.
Read the full article at the Singapore Business Review.
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