Support company growth
Dr Tan said the M-SEP scheme is designed to work with other government programs that support economic priorities.
“Companies participating in these programs contribute to Singapore’s competitiveness and create economic opportunities for Singaporeans,” he said.
Responding to a question about what the new scheme would imply in terms of automation and reliance on foreign workers, the Minister said that the program companies must participate in to qualify for the scheme would be “growth only.” It is also related to helping companies become more productive through innovation and internationalization at the same time.”
Dr. Tang said, “A reorientation and transformation will be required to reduce reliance on large numbers of foreign workers and continue the journey of automation.”
The Ministry of Labor and Ministry of Trade and Industry have previously cited the Economic Development Board’s Development and Expansion Incentives and Enterprise Singapore’s Scale Up SG Program as examples of relevant programs.
These programs are aligned with key economic priorities such as investment in Singapore’s hub strategy, innovation or R&D, and international expansion.
At the time, the ministry said around 1,000 companies (less than 1% of all companies registered in Singapore) met the requirement.
“M-SEP selectively targets companies and investments that will grow our economy and make us more competitive,” Dr Tan said Monday.
He added that M-SEP will only provide support for a limited time.
“Even if the company uses additional foreign workers to transform first, these flexibility will be time-limited and will cease after the support period,” he said.
He added that small businesses and small businesses can qualify for the scheme as long as they meet the necessary conditions.
However, outsourcing service providers will not be allowed to hire more foreign workers based on the client’s eligibility for the scheme, Dr Tan said.
The Minister noted that other measures are being taken to ensure that companies providing essential services such as health care and cleaning public housing complexes have access to foreign workers for essential functions. pointed out.
He said the number of additional S Passes and work permits issued will depend on the utilization of the M-SEP scheme. Not all companies, about 1,000, need his M-SEP support, he said.
“We will closely monitor utilization and review our scheme accordingly,” he added.
The minister stressed that the authorities take workplace equity issues seriously.
Companies that violate the Fair Consideration Framework or the Tripartite Guidelines on Fair Employment Practices may be stripped of work pass privileges and will not be eligible for the new M-SEP scheme.
Those still under investigation will be evaluated on a case-by-case basis.
Please note that the authorities are considering Legislate Tripartite Guidelines on Fair Employment PracticesDr. Tan said:
He added that talent should not be a constraint on growth and that “it is paramount to ensure that Singaporeans benefit” from the country’s economic priorities.
“Designed with these key objectives in mind, the M-SEP will enhance our competitive edge,” he told Congress.
“The government will continue to monitor the performance of the M-SEP scheme so that it can create economic opportunities and provide better outcomes for Singaporeans.”
https://www.channelnewsasia.com/singapore/m-sep-scheme-firms-hire-train-local-workers-tan-see-leng-3192186 New M-SEP scheme designed to ensure companies hire or train local workers: Tan See Leng