The Progress Singapore Party (PSP) is concerned that the government has implemented yet another scheme promoting foreign talent in Singapore. The Tech Pass was launched by the Economic Development Board on 12 Nov 2020 to attract highly skilled foreign tech PMETs (professionals, managers, executives and technicians) to enhance Singapore’s technology ecosystem. With this pass, a holder is not tied to a job or company and free to be investors.
PSP cautions that the success of this scheme may assert downward pressure on the already dull labour market conditions for PMETs in Singapore.
We need greater transparency in the way work and employment passes are allocated and the government needs to rationalise the impact of such schemes before introducing another.
There is fear that new jobs created in IT, biotech and finance sectors are disproportionately allocated to foreigners.
The introduction of Tech Pass gives us no confidence that the government has the best interest of the PMETs here.
Our priority should be on the development of local talent and SMEs (small and medium-sized enterprises) and to ensure that Singaporeans gain a foothold in International markets. We need to do more to facilitate the transfer of technology and building on our Singaporean core.