A number of MPs raised their concerns in Parliament on Tuesday (Feb 26), while some suggested how businesses can deal with the challenge.
on Feb 18 measures to ensure Singaporeans continue to have “good jobs and opportunities”, including reducing the foreign worker quota for the services sector.
The DRC was the focus of a number of MPs’ speeches on Tuesday, with concerns raised about how businesses would be able to deal with the tightening., who was providing a response on behalf of the business community, described the Budget as a “forward-looking Budget, preparing and galvanising Singapore businesses for the challenges and opportunities ahead.”
“We must recognise it will not be easy for companies in the services sector, as they rely heavily on manpower and currently are facing challenges in attracting Singaporeans,” she said, adding that businesses must also understand that the supply of foreign manpower will eventually diminish as well. “We should strengthen this linkage,” he said, suggesting that companies that have been shown to hire more displaced or retrenched local workers be given favourable consideration for renewal of S Passes as well.
To that end, she made several suggestions to further help SMEs. This includes aggressively identifying, training and developing a special workforce comprising senior citizens and persons with disabilities, and incentivising SMEs through higher Special Employment Incentives to employ these workers.applauded the Budget for keeping SMEs in mind, and putting in place measures to help them grow.
“The feedback from the ground is that the pivotal roles that industry stakeholders and trade associations and chambers are expected to play have proven to be uneven across industries,” she said. “Far too few TACs are able to lead the development of industry-wide capabilities, and help their members access local and international networks.”
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Foreign worker quota cuts hit sectors beyond F&B, retailTHE list of businesses that will be hit hard by the upcoming foreign worker quota cuts for the services sector is a long one - covering hotels and entertainment to logistics firms. Read more at The Business Times.
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