International Asia Noisy slips in competitiveness

Noisy Singapore slips in competitiveness

Author

Date

Category

- Advertisement -

Has HK beaten due to uproar?
Singaporeans noisy disapproval of foreign workers within their midst could have cost the country in its race to competitiveness against , with the former British territory now under Chinese rule, emerging as a clear winner.
The simple fact is is rising on world rankings for competitiveness knocking the US off the No 1 list, while Singapore slides from third, to fourth.
This is based on IMD, a Swiss business school, that defines competitiveness as the ability of a country to create an environment in which businesses can generate sustainable value.
Both Hong Kong and Singapore boast low taxes, good infrastructure and easy procedures to open a business, so why the divergence in competitiveness, asked Bloomberg.
One of the reasons is Singapore’s weakening economy as exports in the trade-reliant nation have come under pressure. But another key factor may be Singapore’s stricter rules on hiring foreign labor, which adds to business costs.
The ruling People’s Action Party () took steps to stem the flow of in the country, following massive discontent among locals, who felt foreign workers were invasive and disruptive. Could that be the reason for the nation’s downfall in competitiveness?
The index flags Hong Kong’s labor market as more competitive than in Singapore, with the China-controlled territory improving from 2015 on scores such as working hours, skill levels, unemployment legislation and immigration levels.
Hong Kong also leads Singapore on business efficiency, including productivity and management practices, according to IMD.

Please follow and like us:
Tweet
Share
- Advertisement -

Coding workshop led by new WP MPs sells out due to overwhelming response

Seats at a beginners' coding workshop that is scheduled to be run by three Workers' Party (WP) parliamentarians have sold out after the event drew an overwhelming response from the public. Jointly organised by the Aljunied Constituency Committee and Singapore-based e-commerce platform,...

Goh Chok Tong leaves no “stone” unturned after operation to remove large one from kidney

Singapore -- Former Emeritus Senior Minister (ESM) Goh Chok Tong, who recently underwent an operation to remove a large kidney stone, has disclosed that the first thing he did after waking up from the anaesthesia was to check on his brain...

PM Lee says not suing siblings did not mean permission for anyone else to defame him

Singapore -- "I had decided to take a different approach with my siblings but it didn't mean carte blanche for anyone else to use that and further defame me,” said Prime Minister Lee Hsien Loong in reference to not suing Dr...
Please follow and like us:
Tweet
Share
Follow Me
Tweet