PSP calls for a 30% quota. On top of that, they want a 10% on nationality. They also want top management positions to be ringfenced for Singaporeans.
PSP's policies will make the environment so hostile, that no foreign investor will consider Singapore to build any new business. They will also yurn Singapore into a mediocre country with their protectionism.
When companies come here, they hire Singaporeans and also foreigners. But they are also committed to training Singaporeans to take over more jobs.
Dr Tan See Leng said in his speech in Parliament:
"Indeed many companies tell us that they prefer to hire locals over foreigners, so long as they can find the skills here. Even if there is initially a shortage of skills, many are willing to develop local talent to fill these roles
When it first started, it had to rely more heavily on global talent for specialised technical skills and more senior roles that required managing regional teams.
However, PayPal committed to hire and train 150 Singaporeans across tech and business roles over 3 years."
The PAP Government's strategy is to attract good investments here first to entrench the jobs here even if we do not have enough local talent. We train up our people. In this way, they create good jobs not just for current Singaporeans but also future Singaporeans.
Because we welcomed Mizuho Bank in the early 2000s and allowed them to employ 60% foreigners, today, more Singaporeans have access to good jobs in the bank.
Populism is always shortsighted, focuses only on the present and uses an emotional argument. But thankfully, Singaporeans are mostly rational, reasonable and pragmatic because ultimately, it is about them and their children's future.
