TRADE and Industry Minister Lim Hng Kiang has urged Singaporeans
to understand the need for foreign workers, cautioning that
Singapore will have to turn away big investments if it is not
flexible on this issue.
He said the government plans to cap the proportion of foreigners
at one-third of the workforce over the next decade, but this limit
will constrain Singapore's economic growth.
He was speaking to reporters after a walkabout at Boon Lay
market and hawker centre with his fellow PAP candidates for West
Coast GRC - Mr S Iswaran, Mr Arthur Fong, Mr Lawrence Wong and Ms
Foo Mee Har.
'We will keep foreign workers to one-third of the workforce but
I can tell you that one-third of the workforce is a very severe
limitation to us,' he said.
'I have to be very selective now and take in investments that
don't bust that constraint.'
Mr Lim said in 2006 and 2007, when Singapore took in a 'bumper
crop' of investments from multinationals such as energy giants
Shell and Exxon-Mobil, which required more foreign workers, the
economy expanded by about 7 per cent, he noted.
But with the current limits on foreign worker numbers, Singapore
will have to aim for lower growth of 3 to 5 per cent, he said.
-- ST
