SINGAPORE - Amid geopolitical and economic uncertainties, it is critical for countries and international organisations to continue to work closely together towards long-term, sustainable development, said Finance Minister Heng Swee Keat on Sunday .
"As we become more interdependent and interconnected, it is even more important for countries and international organisations to work closely together to tackle these challenges within a rules-based, multilateral framework, and to build a more peaceful and prosperous world." The conference, which centres around the Work for a Brighter Future report published by the International Labour Organisation in January, takes place over the next two days - Monday and Tuesday. It is organised by the ILO and Ministry of Manpower, and supported by the National Trades Union Congress and Singapore National Employers Federation.
For example, the unions partnered the Singapore University of Technology and Design last year to chart new skills pathways amid job polarisation, in which jobs move towards high and low value work, and jobs requiring mid-level skills hollow out. These efforts come amid three driving forces that are reshaping the global economy and the future of jobs: technological advancements, decline in support for globalisation and demographic changes - whether towards an ageing population or a growing younger workforce.
Meanwhile, globalisation has raised competition between companies trying to attract the best talent, leading to greater wealth accumulation at the upper end and rising tensions between the haves and have-nots, he said.
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