IT HAS been three weeks since the Finance Minister announced a tightening of the number of foreign workers that the services sector can hire, but companies big and small are still hopeful of greater flexibility when the new cap kicks in.
"By applying the reduction across the board, wouldn't it be unfair to companies that have higher productivity?" he asked. He raised the possible consequences of companies driven to closure or to relocate overseas if they find themselves unable to cope with tightened foreign worker numbers. President of Singapore Chinese Chamber of Commerce and Industry Roland Ng said companies are facing difficulties in restructuring and digitalisation.
And every nation wants to see its economy would move up the value chain, so that their workers and enterprises can be well rewarded financially.