Singapore tightens regulations on recruiting foreign experts

From January next year, foreign professionals working in Singapore must earn at least S$5,600 ($4,170) a month, up from the current S$5,000, a requirement for work permits typically granted to highly paid professionals.

A commuter pushes his bicycle past cars stopped at traffic lights during morning rush hour in Singapore. Photo: Reuters

The qualifying salary for those working in the finance sector will increase from S$5,500 to S$6,200. The move is to “ensure that EP (employment pass) holders are of high quality and maintain a level playing field for locals,” the Ministry of Manpower said.

Considered the financial center of Southeast Asia, Singapore has long been a favorite location for foreign companies to set up regional headquarters. Meanwhile, foreign labor is a burning issue that makes people in the country worry about competition for job opportunities.

As of June last year, Singapore had 197,300 foreigners with work permits out of a total foreign workforce of about 1.5 million in the country, which has a population of 5.9 million.

Since the pandemic hit in 2020, the minimum wage for foreigners has been increased three times, with the previous adjustment only taking effect last September.

Ngoc Anh (according to Reuters)

Source: https://www.congluan.vn/singapore-that-chat-quy-dinh-tuyen-dung-chuyen-gia-nuoc-ngoai-post286745.html