Will Singapore jobs be displaced because of Offshore hiring?

And the Solution to Retain Them

Photo by KOBU Agency on Unsplash

In a free market economy, if the cost of doing business in a certain country is lower than in another, then it follows that companies will choose to base their operations there.

As a result of this, the jobs for Singaporeans will be taken away to that country. This is what happened in India.

The answer is simple — It’s because it gives them an edge over their competitors.

You may have heard of companies like Google and Facebook who have set up bases here in Singapore so as to take advantage of our excellent infrastructure and support from the government in terms of tax breaks and relaxation on immigration rules for foreign talent who want to work here. It also helps that we are located strategically near the rest of Asia and has good transportation links with Malaysia and Indonesia.

What is a viable solution to the problem?

In my opinion, there is no credible solution to the problem of offshore hiring. The best we can do now is to look at how we can position ourselves for the future so as to take advantage of this economic trend.

Founder of Cudy Technologies (www.cudy.co), a full-stack EdTech startup helping teachers and students teach and learn better. I am also a mentor and investor.