More Opportunities for Singaporeans

26 Aug 2020 2 min read

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Ministers and start-up owner

The PAP Government will create more good opportunities for Singaporeans, so that Singaporean families can keep improving their lives.

The Ministry of Trade and Industry (MTI), Ministry of Manpower (MOM), Ministry of Communications and Information (MCI), Monetary Authority of Singapore (MAS) and National Research Foundation (NRF) released their addenda to President Halimah’s address to Parliament today.

Minister for Trade and Industry Chan Chun Sing said, “We will reopen our economy safely and sustainably, help businesses and workers adjust, and establish a conducive environment for businesses and workers to grow, to realise our vision of a vibrant economy with opportunities for all.” 

The Ministries and agencies aim to

  1. Ensure Singaporeans have good jobs

Nearly six in 10 locals in the workforce today are employed in professional, managerial, executive and technician (PMET) jobs, among the highest in the world. MOM will make further adjustments to our foreign workforce policies, including raising the salary criteria for Employment and S Passes, to further ensure good jobs for Singaporeans. MOM will also ensure fair hiring and fair retrenchment for Singaporeans, regardless of age, race or gender.

On top of spearheading the creation of 100,000 jobs in the pandemic, MOM will keep uplifting wages for lower-wage workers through the Progressive Wage Model. It will also regularly review Workfare and Silver Support to ensure they are adequately supported.

MCI will create more jobs for both fresh graduates in mid-career professionals in information and communications technology, such as cybersecurity, data analytics, software and network engineering and digital business transformation.

MAS will work with the financial sector to ensure a solid Singaporean core in their workforces, including a strong pipeline of Singaporeans for senior responsibilities and retraining mid-career workers. Despite the pandemic, the financial sector is on track to meet its 5-year targets for growth and job creation.

  1. Help our businesses and industries transform

Amidst global trade tensions and the disruption of COVID-19, MTI will keep Singapore’s economy vibrant and open. It will keep supporting businesses including small- and medium-sized enterprises (SMEs) and startups.

MTI and NRF will support the maritime and aviation sectors through a tough time, by helping them generate fresh revenue and leverage advanced technologies.  

As for sectors that have permanently changed, including mass market tourism and social entertainment, MTI will help them reinvent themselves and pivot to new markets. If a business has to close or lay off its employees, MTI will work with MOM, unions and employers to help workers develop new skills and find new jobs. 

  1. Invest and seize new opportunities for growth

 The Government will keep investing in growth areas, so that we keep creating meaningful and well-paid jobs for Singaporeans.

MAS will promote digitisation and green finance in the financial industry, to keep Singapore a regional financial hub. Similarly, NRF will help Singapore seize opportunities related to Science and Technology, such as green technologies, healthcare and weapons against COVID-19.

Image credit: MTI’s Facebook