SINGAPORE, Aug 22 — Singapore will be introducing new initiatives aimed at making “top talent everywhere sit up, pay attention, and think seriously about coming” here, as it seeks to gain an advantage in the global competition for talent, Prime Minister Lee Hsien Loong said on Sunday (Aug 21).
In his National Day Rally speech, Mr Lee noted that Singapore already has schemes to attract and retain top talent from around the world, especially for the technology industry, but added that the country has to do more, especially in sectors with good potential.
The Ministry of Manpower, Ministry of Trade and Industry and the economic agencies will soon announce new initiatives to this end, he said.
He noted that these initiatives come as various other countries are making a special effort to court top international talents: Germany recently allowed skilled foreign professionals to live there even before they secure a job, while the United Kingdom wants to attract the best and brightest at the beginning of their careers.
“Recently, it introduced a special visa for graduates from 50 top universities in the world outside the UK. And if you look through their list, it includes the National University of Singapore and the Nanyang Technological University,” Mr Lee pointed out.
He added that Singapore has a window of opportunity now to attract top foreign talent, as its reputation of quality, reliability and efficiency gives the country a competitive edge, and its track record tackling Covid-19 makes it stand out even more.
He said: “If we can get the people we want to come here, it will really help Singapore to shine brightly as a hub of innovation, entrepreneurship, and growth.
“And it’ll make our own talent want to stay in Singapore, to participate in building a dynamic and outstanding nation.”
Mr Lee gave the assurance that the Government will do its utmost to develop local talent and build a world-class talent pool, but added that Singapore “can never have enough” when it comes to top talent.
“This is an age where talent makes all the difference to a nation’s success. We need to focus on attracting and retaining top talent, in the same way we focus on attracting and retaining investments,” said Mr Lee, adding that even as globalisation is on the wane, and countries are turning inwards and protectionist, Singapore must stay open and connected to the world.
He noted that it is impossible for Singapore to grow or make everything it needs for itself, nor consume everything it produces, such as computer chips and pharmaceuticals.
“To make a living, we will always require foreign investments, overseas markets, and excellent transport and communications links with all parts of the world,” said Mr Lee, who delivered his speech at the Institute of Technical Education headquarters in Ang Mo Kio.
HOW SINGAPORE BUILT ITS BIOMEDICAL SCIENCES SECTOR
In his speech, Mr Lee outlined how Singapore’s openness to foreign talent helped it to build its biomedical sciences sector from scratch.
In the 1990s, Mr Philip Yeo, the former chairman of the National Science and Technology Board (now known as the Agency for Science, Technology and Research), scoured top universities and research institutes for the best biomedical scientists, researchers and engineers, said Mr Lee.
These foreigners mentored locals, who are now in turn working on cutting-edge research and development or have founded start ups to commercialise their scientific discoveries.
Mr Lee said that Singapore’s biomedical sector is now thriving, currently employing 25,000 people and contributing to almost a fifth of Singapore’s manufacturing gross domestic product.
“We have also attracted major projects, including from (pharmaceutical companies) Sanofi and BioNTech — these are leading firms for vaccine manufacturing facilities,” said Mr Lee.
During the Covid-19 pandemic, both Singaporean and non-Singapore researchers made significant contributions globally, he added.
These contributions include developing Covid-19 test kits, contributing to the understanding of vaccine development worldwide and helping Singapore secure vaccines early.
“Had we not sought out top talent 30 years ago, and then continued to build up our biomedical research teams and activities, and develop home grown talent, all this would not have happened,” said Mr Lee.
Good leadership needed for Singapore’s survival
Having the right political talents to lead Singapore is also critical to the nation’s survival, Mr Lee said, adding that a small country like Singapore has “zero margin for error” in this regard.
Singapore needs leaders with integrity, dedication, competence and the conviction to “make the tough calls...even if it may cost them some votes”, he said.
“We cannot afford any compromise on this.”
He added that Singapore has had leaders over the last three generations who have earned and maintained Singaporeans’ trust and confidence and the Government will keep working hard to find the right people who do their best for the country.
“It is our duty to extend our success formula into the next generation and beyond,” he added.
Although he had to put his succession plans on hold when the Covid-19 pandemic hit two years ago, Mr Lee said he was happy that his succession plans are moving forward again with the younger ministers choosing Deputy Prime Minister Lawrence Wong as their leader.
Mr Wong, who is also the Finance Minister, was named by Cabinet ministers to lead the fourth generation (4G) of Singapore’s political leadership in April this year.
Calling on Singaporeans to give their fullest support to Mr Wong and the rest of the 4G team, Mr Lee warned that the next few decades will be “bracing but exhilarating” for Singapore.
“But with your trust, we can come through whatever difficulties await. With your support, we can turn hopes and dreams into reality,” he said. — TODAY
