Government Strategy for Growing Economy and Good Jobs without Over-reliance on Foreign Manpower
So, now what do we do? The Singaporean is now holding the $5,000 job. We have the prospect of having two new jobs – $7,000, $10,000, with a new investment. Supposing, as a thought process, we say that we will not allow any fresh foreign worker to come in. Then, what does it mean? The only way that we can bring in that investment is: first, there must be two Singaporeans available to do those jobs. But the Singaporeans are already in jobs. So, the chances are that if we do not have circulation space for our manpower, chances are that we will forgo that investment, because we have essentially full employment, one of the world's highest labour force participation rate, but we have no spare capacity. And we cannot free up two in time to take the new investment. That is one possible scenario. So, we will lose the investment for this generation and the next.