Posted on September 07 2022
Abstract: Singapore launches a new work visa to attract global talent.
Singapore introduced a new work visa. ONE or Overseas Networks and Expertise was passed last week to make it easier to welcome international individuals to address the shortage in the workforce.
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The Singapore ONE pass aims to attract rainmakers, or individuals who would generate income for an organization or business by negotiating deals, or attract funds and clients.
The ONE pass is a visa that will allow the candidates and their partners to work in Singapore for 5 years. The new work visa was introduced in an effort to attract global talent to address the impact of the pandemic. It also hopes to protect the local workers.
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Singapore will not be limiting the number of applicants for the ONE work permit as the country seeks to attract the best talents from all around the world.
The work permit hopes to attract skilled individuals in the fields of science, engineering, technology, mathematics, sports, arts, and culture.
Promoting innovation and boosting productivity are essential for Singapore as it plans to increase the manufacturing value of the country by 50 percent. It also plans to raise the annual exports to 712 billion USD by 2030.
With this new work permit, Singapore hopes to join the same league as the UAE and the UK as a profitable international investment hub.
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