Skill Shortages in Singapore
From the perspective of supporting the growth of key economic sectors in Singapore and as its expanding economy continues to create new jobs, some of the skills in demand involve Finance and Accounting, Supply chain, Insurance, Healthcare, IT and Construction. In addition, the country is also seeking growth in the legal market as there is an increasing need for legal counsel in the engineering and construction industry owing to an increase in new projects and development.
The city-state is a major producer of products ranging from aircraft engines to medical equipment and oil rigs, and top firms such as Rolls-Royce and German industrial conglomerate Siemens have operations there. Singapore has traditionally welcomed foreign workers in sectors ranging from construction to investment banking to plug skills shortages and do jobs that locals shun, and 40 percent of its 5.6 million inhabitants are from overseas. Singapore-based companies are in close contact with universities and polytechnics so they can tailor their courses according to the requirements of high-tech manufacturing. Singapore is well known for being a global center for finance, biotechnology, and energy.