Singapore needs more foreign workforce -Govt
SINGAPORE: Singapore, which has a sizable number of people of Indian
origin, should take in 30,000 foreigners as new permanent residents
every year to beat the falling fertility rate and ensure that its
economy remains competitive, the government said today.
A White Paper on Population has proposed that Singapore should take
in 15,000-20,000 new citizens each year from the PR pool of about
500,000-600,000 that would have to maintained by 2030 to stop the
population from shrinking.
About 30,000 new Permanent Residents (PR) is needed to keep the PR
population stable at 500,000 to 600,000. Over 900,000 Singaporeans, more
than a quarter of citizens, would retire from the workforce between now
and 2030, according to the paper.
“Many Asian cities are modernising rapidly, and catching up on us,”
the government said. By 2050, there would be more people above the age
of 50 than younger Singaporeans.
Replacing them would be challenging because of the falling fertility
rate in the city state.
The paper pointed out that Singapore’s total fertility rate (TFR) has
fallen below the replacement level of 2.1 in the past 30 years. Last
year, the TFR was about 1.3, according to preliminary figures.
Singapore’s citizen population size would start to decline by 2025,
according to the paper.
The shrinking population would also have an impact on the city
state’s economic growth. Singapore’s Gross Domestic Product growth
beyond 2020 would likely fall to between 2 and 3 per cent a year, from
the current 3 to 5 per cent projection for this decade.
Deputy Prime Minister Teo Chee Hean said: “This White Paper is the
first time the government has set out a comprehensive population roadmap
to strike the best balance in our population policies.”
At the heart of the White Paper’s strategy lies 3 principles:
maintain a strong Singaporean core, create good jobs and opportunities
for Singaporeans, and have a high quality living environment, reported
the Channel News Asia.
Teo said: “Going forward, we want to make sure that the roadmap that
we have is an appropriate one, and if we focus on those key issues,
making sure that we have enough young Singaporeans, a population
structure that can provide for our seniors.
AFP
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