5.2 Economic Opportunities

Chapter 5, Topic 2

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Economic opportunities often attract migrants and immigrants looking for employment that may not exist in their home countries.
In Singapore, employment opportunities are readily available due to the large number of businesses that operate here.
The ease of doing business, growth potential, stable political environment and well-established judiciary system attract global investors such as multinational corporations (MNCs).
Singapore has the reputation of a business hub and its world-renowned efficiency has attracted about 7,000 MNCs to set up operations here.

It is important for Singapore to remain competitive and continue to be a place where businesses and investors can see long-term prospects for growth and a range of employment opportunities.
Ample job opportunities and consistent investments by MNCs have led to increase in Singapore’s Gross Domestic Product (GDP) per capita over the years.
As Singapore’s economy continues to grow, we will need both lower and higher-skilled manpower to remain attractive to foreign companies and sustain our economy growth.
Singapore’s stability and the economic opportunities it offers thus continue to attract many foreigners to seek employment and take up residency here, adding to the diversity found in Singapore.
The increase in migrants and immigrants seeking employment here may have led to greater socio-economic diversity. The highly-skilled workers raise the incomes of the top tier income earners while the lower-skilled migrants may keep wages at the bottom tiers low.

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