Move to raise salary criteria for S Passes, EPs timely: Analysts

But some raise concerns that changes could raise business costs, hurt competitiveness

The impending increase in the salary threshold for foreign professionals would be the second announced this year and comes amid rising retrenchments and concerns about job market rivalry between locals and foreigners.
The impending increase in the salary threshold for foreign professionals would be the second announced this year and comes amid rising retrenchments and concerns about job market rivalry between locals and foreigners.ST PHOTO: KHALID BABA

Singapore's upcoming move to raise the salary threshold for foreign professionals in order for them to qualify to work here is a timely one that will encourage firms to source more locals, said observers and business groups.

But it looks set to push up business costs in the long run, some of them added.

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A version of this article appeared in the print edition of The Straits Times on August 27, 2020, with the headline 'Move to raise salary criteria for S Passes, EPs timely: Analysts'. Print Edition | Subscribe