SINGAPORE - Singapore businesses will have to find ways to rise above the challenges of manpower constraints and increasing costs to thrive in today’s more uncertain economic environment. Read more at straitstimes.com.
SINGAPORE - Singapore businesses will have to find ways to rise above the challenges of manpower constraints and increasing costs to thrive in today’s more uncertain economic environment.
Nominated MP Janet Ang cited how the latest National Business Survey found that 96 per cent of businesses are concerned about more costly manpower, having to attract and retain younger workers and coping with restrictions on foreign labour.
To tackle manpower shortages, more can be done to encourage Singaporeans to take up job roles at or higher than the S Pass and the EP qualifying salary levels, suggested Ms Ang. Ms Foo noted that there is no silver bullet for the long-standing manpower challenges confronting businesses. While the Job-Skills Integrators initiative announced at this year’s Budget could go some way in addressing the industry skills gap, Ms Chan called for more light to be shed on how the current continuous education training curriculum and the Industry Transformation Maps have helped to push the boundaries for companies.Ultimately, to overcome Singapore’s inherent resource constraints, there is a need to significantly beef up productivity, said Mr Liang Eng Hwa .
The changes - made under the Base Erosion and Profit Shifting initiative, or BEPS 2.0, a global framework for the reform of international tax rules - will affect tax incentives for multinationals to set up shop here.
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