Singapore has restrictions forforeign labor
From the eighth day, companies large and medium employers need workers with a monthly salary of less than 12,000 Singapore dollars ($ 9,700) to post a notice on an online job site of the Government that only the Singapore and the long-term residents of the new settlement was filed. The job must be open for indigenous people in the two weeks prior to allowing foreign candidates.
Many corporate multinationals, from Google, Microsoft, P & G and BP are headquartered in Singapore for Asia, due to the stability of the political, economic, low taxes and the ability to attract talent in the region and the world.
Singapore has nearly 40% are foreign workers. Photo: AFP
Foreign workers make up about 38% of the labor force of 3.4 million people of Singapore. This new law is Singapore’s latest measures to reduce the pressure of the natives of the growing presence of foreign workers in the island.
Employment is one of the most prominent issues that voters raised in the 2011 general election was the election It has many participants from as far independent Singapore.
The economist said that limiting foreign workers could worsen economy images of freedom and openness of the country. “Singapore is in danger of reducing the degree of openness” – Chua Hak Bin, an economist at Bank of America Asia Merrill Lynch said.
10 of 12 employment centers Reuters survey also said that recruiting is becoming more difficult. Chris Mead – Regional Director at Hays Recruitment Centre commented: “The laws of Singapore tightened hiring foreigners will do the labor shortage problem at this high level more serious.”
Some recruitment firms are predicting the company will strengthen some parts move abroad, especially in the field of information technology and manufacturing. Credit Suisse has moved a number of administrative positions logistics from Singapore to India and Poland. In early 2013, Deutsche Bank also said it is considering shifting more than 8,000 employees from offices in New York, London, Hong Kong and Singapore to places with lower costs.