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Boost the productivity, Singapore’s way to go

Singapore is a well-known economic center not only in Southeast Asia but also in Asia as a whole. Local and foreign entrepreneurs consider Singapore as a premium location for company formation due to its enterprise-friendly environment, transparent policies, and relatively easy incorporation process. More so, the city-state has skilled and a highly-qualified pool of talent.

Over the past few decades, with the foreign talent policies, the government has successfully been attracting countless foreigners with talent and technical skills to work and contribute to the fast-growing economy of Singapore. While this open door policy largely contributed in the growing economy, as time goes by, problems started arising. To reduce foreign talent dependency and offer locals with more employment opportunities.

Many businesses that are incorporated in Singapore are used to relying on foreign workers to help manage operations. With these adjustments, how do the government help them to meet up the change? The answer is that the government is introducing the Singapore’s way to go for boosting the productivity.

In April 2010, the National Productivity and Continuing Education Council (NPCEC) was formed to galvanize the national effort to boost skills and enterprise productivity, and also develop a comprehensive system for continuing education and training. Since its formation, the Council has developed strategies to improve national productivity with the aim to achieve a productivity growth of 2 to 3 per cent per annum over the next 10 years.

With all the efforts from the government, investors, and entrepreneurs do not have to worry about starting a business in Singapore. There is always a way to boost the productivity, and here, it is called way to go, Singapore.