Singapore to hire 260,000 professionals to fulfil the workforce shortages. IT & Software, Banking, Engineering are most in demand.

Highlights: Singapore to hire 260,000 foreign workers

• Singapore plans to hire 260,000 foreign workers to fulfill the workforce shortage in the country.
• Banking, engineering, IT, and software are the top sectors in Singapore.
• The country currently needs software developers, product managers, AI engineers, sales professionals, and compliance specialists.  
• A new points-based system for employment passes was enacted on September 1, 2023.

 

*Looking to work in Singapore? Get in touch with experts at Y-Axis for detailed assistance.  

 

New points-based system of Singapore

Singapore plans to recruit 260,000 fresh, skilled foreign workers to cover the workforce shortage in the country. Singapore also introduced a new points-based system, COMPASS, on September 1, 2023. The new system is specifically for Employment pass applicants (EP) to bring skilled foreign talent into the country. Singapore’s points-based system will also be applied to renew Employment Passes (EP) starting September 2024. Bonus points will be awarded to applicants with skills in short supply and enterprises that add to the strategic economic priorities of the country.

 

 *Want to migrate abroad? Talk to professionals at Y-Axis for assisted guidance.

 

Top Talent Pass Program

Hong Kong’s Top Talent Pass was introduced in 2022. The program offers a two-year work permit to recent graduates from well-known universities to reside and work in the city. Graduates with no employment offer in-hand can also apply for the Top Talent pass.

 

List of the most in-demand sectors in Singapore

The country seeks skilled foreign workers to add to its overall labor workforce.

The top sectors/ occupations in Singapore are as follows:

• Banking
• Finance
• Engineering
• IT & Software
• Trade

 

*Want to apply for jobs in Singapore? Avail Y-Axis Job Search Services for end-to-end job support.

 

The top in-demand job roles in Singapore are as follows:

• Project Manager
• Software Engineers
• Business Development Manager  
• Sales Manager
• Finance service managers
• Compliance managers
• AI Engineers
• Product Managers

 

*Are you looking for step-by-step assistance to migrate to Singapore? Talk to Y-Axis, the leading Overseas Immigration Company in the UAE.

Web Story: Singapore to hire 260,000 foreign workers to fulfil the workforce shortages