An article on Reuters indicated that some
Singapore companies are planning to leave Singapore due
to rising costs and slow growth. The article state that a “severe labor
shortage” is hobbling businesses in Singapore as the government
tightens its immigration policies.
As a Singaporean, I find that extremely strange because if there’s a tightening of foreign labor in
Singapore, I sure haven’t seen it. Singapore has the most open immigration policy
in the region, if not in the whole of Asia, and a “tightening” of the policy will
still the country with the open immigration policy in the region!
It’s laughable to hear anyone complain that
Singapore is losing
business due to “immigration policies”. Seriously; if there is a country right
now in this region with an even more open immigration policy than Singapore’s,
please tell our government about it because they are being heavily criticized from
all quarters for having too open of an immigration policy!
It’s simple economics. No matter how much
wants something, they
will not be able to buy it if their wages are too low and the price is too high.
Inflation, not immigration is Singapore ’s
problem and that is something that (hopefully) our budget this year would