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NDR 2022: New initiatives in the works to help S'pore seize 'window of opportunity' to attract top global talent

SINGAPORE — Singapore will be introducing new initiatives aimed at making "top talent everywhere sit up, pay attention, and think seriously about coming" here, as it seeks to gain an advantage in the global competition for talent, Prime Minister Lee Hsien Loong said on Sunday (Aug 21).

Prime Minister Lee Hsien Loong said that the Government will do its utmost to develop domestic talent but added that Singapore “can never have enough” when it comes to top talent.
Prime Minister Lee Hsien Loong said that the Government will do its utmost to develop domestic talent but added that Singapore “can never have enough” when it comes to top talent.
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  • Singapore will be introducing new initiatives to attract top global talent, Prime Minister Lee Hsien Loong said
  • The country already has some schemes to do so, but it “can never have enough” when it comes to top talent, he added
  • Various countries are also making a special effort to compete for global talent
  • Singapore's openness to foreign talent helped to build its biomedical sciences sector to what it is today, he noted
  • The country has a window of opportunity now to attract top talent since its handling of Covid-19 has made it stand out, he said

 

SINGAPORE — Singapore will be introducing new initiatives aimed at making "top talent everywhere sit up, pay attention, and think seriously about coming" here, as it seeks to gain an advantage in the global competition for talent, Prime Minister Lee Hsien Loong said on Sunday (Aug 21).

In his National Day Rally speech, Mr Lee noted that Singapore already has schemes to attract and retain top talent from around the world, especially for the technology industry, but added that the country has to do more, especially in sectors with good potential. 

The Ministry of Manpower, Ministry of Trade and Industry and the economic agencies will soon announce new initiatives on this matter.

He noted that various other countries are making a special effort to court top international talents: Germany recently allowed skilled foreign professionals to live there even before they secure a job, while the United Kingdom wants to attract the best and brightest at the beginning of their careers.

"Recently, it introduced a special visa for graduates from 50 top universities in the world outside the UK. And if you look through their list, it includes the National University of Singapore and the Nanyang Technological University," Mr Lee pointed out.

He added that Singapore has a window of opportunity now to attract top foreign talent, as its reputation of quality, reliability and efficiency gives the country a competitive edge, and its track record in tackling Covid-19 makes it stand out even more.

He said: "If we can get the people we want to come here, it will really help Singapore to shine brightly as a hub of innovation, entrepreneurship, and growth.

"And it'll make our own talent want to stay in Singapore, to participate in building a dynamic and outstanding nation."

Mr Lee gave the assurance that the Government will do its utmost to develop homegrown talent and build a world-class talent pool, but added that Singapore “can never have enough” when it comes to top talent.

“This is an age where talent makes all the difference to a nation’s success. We need to focus on attracting and retaining top talent, in the same way we focus on attracting and retaining investments,” Mr Lee said, adding that even as globalisation is on the wane, and countries are turning inwards and protectionist, Singapore must stay open and connected to the world.

He noted that it is impossible for Singapore to grow or make everything it needs for itself, or consume everything it produces such as computer chips and pharmaceuticals.

“To make a living, we will always require foreign investments, overseas markets, and excellent transport and communications links with all parts of the world.” 

HOW SINGAPORE BUILT ITS BIOMEDICAL SCIENCES SECTOR

Speaking at the Institute of Technical Education headquarters in Ang Mo Kio, Mr Lee outlined how Singapore's openness to foreign talent helped it to build its biomedical sciences sector from scratch.

In the 1990s, Mr Philip Yeo, the former chairman of the National Science and Technology Board (now known as the Agency for Science, Technology and Research), scoured top universities and research institutes for the best biomedical scientists, researchers and engineers.

These foreigners mentored residents here, who are now in turn working on cutting-edge research and development or have founded startups to commercialise their scientific discoveries.  

Mr Lee said that Singapore's biomedical sector is now thriving, employing 25,000 people and contributing to almost a fifth of Singapore’s manufacturing gross domestic product.

“We have also attracted major projects, including from (pharmaceutical companies) Sanofi and BioNTech — these are leading firms for vaccine manufacturing facilities,” Mr Lee said.

During the Covid-19 pandemic, both Singaporean and non-Singapore researchers made significant contributions globally, he added.

These contributions include developing Covid-19 test kits, contributing to the understanding of vaccine development worldwide and helping Singapore secure vaccines early.

“Had we not sought out top talent 30 years ago and then continued to build up our biomedical research teams and activities, and develop homegrown talent, all this would not have happened.” 

GOOD LEADERSHIP NEEDED FOR SURVIVAL 

Having the right political talents to lead Singapore is also critical to the nation's survival, Mr Lee said, adding that a small country such as  Singapore has “zero margin for error” in this regard.

It needs leaders with integrity, dedication, competence and the conviction to “make the tough calls... even if it may cost them some votes”, he said.

“We cannot afford any compromise on this."

He added that Singapore has had leaders over the last three generations who have earned and maintained Singaporeans’ trust and confidence and the Government will keep working hard to find the right people who do their best for the country.

“It is our duty to extend our success formula to the next generation and beyond.” 

Although he had to put his succession plans on hold when the Covid-19 pandemic hit two years ago, Mr Lee said he was happy that the plans are moving forward again with the younger ministers choosing Deputy Prime Minister Lawrence Wong as their leader.

Mr Wong, who is also the Finance Minister, was named by Cabinet ministers to lead the fourth generation (4G) of Singapore’s political leadership in April this year.

Calling on Singaporeans to give their fullest support to Mr Wong and the rest of the 4G team, Mr Lee warned that the next few decades will be “bracing but exhilarating” for Singapore.

"But with your trust, we can come through whatever difficulties await. With your support, we can turn hopes and dreams into reality," he said.

Click here for all the key updates and highlights of National Day Rally 2022.

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NDR 2022 National Day Rally 2022 foreign talent

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