By Sharon See | Posted: 15 March 2011 1800
hrs
SINGAPORE : Singapore has to make changes to the way
it grows its economy as the model of relying on cheap and plentiful
foreign workers to boost output is not sustainable, said Senior
Minister Goh Chok Tong.
He was speaking at the Installation Ceremony of the 56th Council of
the Singapore Chinese Chamber of Commerce and Industry (SCCCI) on
Tuesday.
Mr Goh said Singapore has raised the Foreign Worker Levy and
provided incentives for businesses to raise productivity.
He also said the government will work closely with industry
associations and business chambers to help their members become
more competitive by improving their business models and raising
productivity.
"Some people believe that the Foreign Worker Levy will be reversed
if the economy slows down. But don't bank on it. I would like to
reiterate here that the government is determined to reduce the
dependency on foreign labour and raise the productivity and incomes
of Singaporeans," the senior minister said.
The chamber is also heeding the government's call to raise
productivity by helping its member companies to do so.
SCCCI president Teo Siong Seng outlined the chamber's focus for the
next two years, which includes venturing to overseas markets.
Mr Teo said the chamber will help the government to promote its
various assistance schemes to its member companies. At the same
time, he said it will help its member companies appeal for more
simplified application procedures and a shortened approval
process.
Mr Teo also said the chamber has received approval from the
Ministry of Trade and Industry to set up a representative office in
Shanghai through a new initiative for trade associations to venture
abroad.
The chamber has already signed agreements with five trade
association members.
The Shanghai Representative Office will help them to liaise with
their counterparts, arrange for mutual visits and provide business
matching services.
SCCCI is now discussing with other ethnic chambers on
collaborations with the Shanghai Representative Office.
- CNA
PAP gahment bring the FT themselves.
Self contradicting PAP.
