The Straits Times
Published on Sep 04, 2012

Singapore needs growth to retain talent, says Iswaran

Minister cites Japan and Taiwan in warning against allowing brain drain


Japan and Taiwan once glowed as economic miracles, but lost their shine when growth slowed and job prospects at home turned bleak.

Japanese engineers left for nearby South Korea, which welcomed them with generous pay packages. Taiwan, too, suffered a brain drain.

Likewise, Singapore needs to keep growing so that it can create good jobs for its citizens - or risk losing its talents - warned Minister in the Prime Minister's Office S. Iswaran.

"If opportunities dwindle, the consequences can be quite austere," he told about 200 undergraduates at a dialogue on population and the economy.