A new scheme was introduced on Tuesday (Dec 13), allowing eligible companies to temporarily hire as many as 50 more workers from other countries on the condition that the local workforce is also hired and trained.
The scheme supports “the growth of businesses that contribute to Singapore’s strategic economic priorities through ambitious investment, innovation, or internationalisation activities,” MOM said in a statement on its website. Not every company is eligible for the scheme, however, as it is specifically for “firms that are needle-movers for Singapore’s economic priorities and competitiveness.”
The scheme is designed to aid these firms in taking advantage of opportunities to expand successfully while at the same time securing jobs and training opportunities for Singaporeans.
It allows these companies the flexibility to hire more S Pass and Work Permit holders of up to five per cent more than their base workforce headcount, for a maximum of 50 workers for each firm.
This will be allowed for two years upon enrolment with the M-SEP scheme, subject to renewal if the company continues to meet requirements.
Two conditions must be met in order for companies to qualify: The first is that firms must participate in programmes or activities in line with either investment, which supports Singapore’s hub strategy, innovation Research & Development, or internationalisation.
The second is for firms to commit to hiring and/or training locals.
“The M-SEP scheme signals Singapore’s commitment to remain open and connected and the Government’s continued support for our businesses to amplify economic growth and the creation of more good jobs for Singaporeans. Applications are now open. More details can be found on MOM’s website,” MOM said.
The new scheme comes three months after the Overseas Networks and Expertise (ONE) pass, which was introduced in late August and is set to take effect on Jan 1, 2023.
In an interview with Bloomberg Television’s Juliette Saly in September, Dr Tan further explained the “offensive strategy” to bringing top global talent into Singapore, which Prime Minister Lee Hsien Loong mentioned in his National Day Rally speech.
“What we are really hoping to bring to Singapore are the rainmakers,” he said, referring to leaders in scientific, finance, culture, and sports fields.
“We are always open for business, always open for global talent,” he told Bloomberg’s Saly.
The Manpower for the Strategic Economic Priorities (M-SEP) scheme was launched by the Ministry of Trade and Industry (MTI) together with the Ministry of Manpower (MOM) and participating economic agencies. It was first announced by Manpower Minister Tan See Leng in his MOM Committee of Supply 2022 speech last March. /TISG