Commitment of New Companies in Developing Strong Singapore Core
Ministry of Trade and IndustrySpeakers
Summary
This question concerns Mr Desmond Choo's inquiry regarding how new investments are aligned with developing a strong Singapore Core and progressive workplace practices. Minister for Trade and Industry (Trade) Lim Hng Kiang stated that the Economic Development Board targets investments that create good jobs for Singaporeans while managing resource constraints. He highlighted that the SkillsFuture movement and the Earn and Learn Programme provide citizens with industry-relevant skills and career progression through structured training. The Minister also emphasized that the Fair Consideration Framework ensures a level playing field by requiring companies to consider Singaporeans fairly for job opportunities. Finally, all companies must comply with Tripartite Guidelines on Fair Employment Practices to maintain merit-based and non-discriminatory workplaces for the local workforce.
Transcript
23 Mr Desmond Choo asked the Minister for Trade and Industry (Trade) how will the Ministry ensure that new companies or investments brought into Singapore are aligned to developing a strong Singapore Core and progressive workplace practices.
Mr Lim Hng Kiang: The Economic Development Board (EDB) adopts a targeted approach to investment promotion, attracting projects that are in line with Singapore's competitive strengths, as well as our constraints in manpower, land and planned international commitments on carbon emissions, to create good jobs for Singaporeans. From 2011 to 2015, EDB secured commitments of S$65 billion in fixed asset investments. These investments are expected to generate total business expenditure per annum of S$34 billion, value-added per annum of S$77 billion, as well as create 107,000 jobs when fully implemented.
The Government works with relevant educational institutions and industry partners to ensure that Singaporeans are equipped with the skills to take up good jobs. This is embodied in the national SkillsFuture movement, which develops an integrated system of education, training and career progression for all Singaporeans, promotes industry support for individuals to advance based on skills, and fosters a culture of lifelong learning. One initiative that encourages employers to develop a Singaporean Core is the SkillsFuture Earn and Learn Programme. This is a place-and-train programme for fresh polytechnic and ITE graduates, who are matched with employers and have opportunities to learn through structured on-the-job and institution-based training. This programme equips graduates with industry-relevant skills. Those who successfully complete this programme receive industry-recognised qualifications.
The Government also ensures that Singaporeans have a level playing field for good jobs through the Fair Consideration Framework. It sets out clear expectations for all companies to consider Singaporeans fairly for job and career opportunities. In addition, all companies must comply with the Tripartite Guidelines on Fair Employment Practices and have fair employment practices that are open, merit-based and non-discriminatory.