Singapore will reduce S-Pass quotas for foreign workers for the manufacturing sector from 20 percent to 15 percent by January 2023. The move is part of the government's efforts to moderate Singapore's reliance on foreign labor while still drawing frontier investments into the sector. The government has extended a number of programs to assist businesses in reskilling their local workforce. Singapore will begin reducing the foreign worker quota for the manufacturing sector over the next two years, according to the 2021 budget . The government will cut the S-Pass sub-Dependency Ration Ceilings (DRC) from the current 20 percent limit to 15 percent in January 2023. The DRC is the permitted ratio of foreign workers to the total workforce a local business is allowed to hire and S-Pass workers are classified as mid-level skilled international workers earning at least S$2,500 (US$1,881) per month. Furthermore, the foreign worker levy rates for services, marine shipyard, and construction were reduced to 18 percent, starting January 1, 2021, and will be cut to 15 percent in January 2023. Why cuts to Singapore's foreign worker quota have been announced now? The move is part of the government's efforts to moderate Singapore's reliance on foreign labor, particularly… Read full this story
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