DPM Heng Said Agreements Like CECA Haven’t Taken Away Jobs For S’poreans

If you’ve been paying attention to the debates during GE2020, one point of contention that the opposition parties hammered on is jobs for Singaporeans.

Bilateral agreements like the India-Singapore Comprehensive Economic Cooperation Agreement (CECA) was brought up and accused of giving away jobs to foreigners.

Accusations that DPM Heng says is not true.

DPM Heng Said Agreements Like CECA Haven’t Taken Away Jobs For S’poreans

The free trade agreements or comprehensive economic cooperation agreements that Singapore has signed doesn’t give jobs away to foreigners.

What it does, instead, is to create better jobs for Singaporeans.

He explained that the agreements are a way to draw foreign investments into Singapore, something that PM Lee said is essential for us to survive in the coming storm.

These agreements also help to pave the way for Singapore businesses to go overseas.

For example, here’s a look at Singapore-India CECA:

With it, Singapore businesses can enjoy a reduction in products that are imported to India to be sold.

When a business can expand overseas, it’ll create jobs for Singaporeans as long as it’s based in Singapore.

Skills Mismatch in Singapore

Then, the next question is, why are so many foreign talents here then, especially at Changi?

The reason why you see this happening is because of skills mismatch.

He explained that right now, there are opportunities for several sectors to grow but Singapore doesn’t have the skillset to fully take advantage of them.

Some examples would be the technology and risk management area, where DPM Heng says we are lacking manpower in.

So what’s the next best way?

Bring foreign talents in to make up for the lack of expertise to take advantage of the opportunity while trying to grow Singaporeans’ expertise.

Skills Package

More funds are being pumped into training Singaporeans, DPM Heng said.

In April, MAS announced a $125 million support package to boost the capabilities within the financial and fintech sectors.

MAS is also asking local institutions to identify and groom potential local talents into leaders and has programmes in place that lets such candidates gain valuable overseas experience.

There is also a comprehensive #SGUnited Skills and Training package that Singaporeans must take advantage of.

Skills needed in the post-Covid-19 world will be very different, he warned, and while you try to survive now, you must also try to improve yourself.

Not Signing Away Our People

DPM Heng signing the agreements doesn’t mean the Singapore government signed away its right to decide who becomes a citizen or PR, and who gets an employment pass.

Pointing to the Fair Consideration Framework (FCF), he says that Singapore has in place a set of safeguards to protect against the worst-case scenario.

Recently, the Ministry of Manpower (MOM) has been hard at work monitoring the situation and placing companies which potentially discriminates against Singaporean employees on a watchlist.

If they’re found to be guilty, they could find their ability to hire foreign talents crippled effectively.

Plus, NTUC, Singapore’s one and only trade union, is also hard at work trying to protect Singaporean workers.

TL; DR: Time to upskill yourself for future-proof jobs, it’s not about foreign talents coming in, it’s about our own skillset.

Here are some useful tips to get you started: