Singapore Targets Elite Global Talent with New Strategy, Says Manpower Minister

Minister of Manpower Tan See Leng elaborated on Singapore’s new approach to attract top international talent, following Prime Minister Lee Hsien Loong’s mention of this strategy during the National Day Rally last month. Describing the “offensive strategy” behind this effort, Dr. Tan highlighted the goal of bringing in “rainmakers” through the recently introduced Overseas Networks and Expertise (ONE) pass, which will take effect from January 1, 2023.

During an interview with Bloomberg Television’s Juliette Saly on September 4, Dr. Tan emphasized that there will be no cap on the number of applicants for the ONE pass. He noted that this initiative is part of a broader plan to ease the hiring process for expatriates, especially in a tight labor market.

Referring to “rainmakers,” Dr. Tan was talking about prominent leaders from sectors like science, finance, culture, and sports. “We are always open for business, always open for global talent,” he told Bloomberg, reinforcing Singapore’s commitment to welcoming top international professionals.

The ONE pass offers expatriates earning a minimum of S$30,000 per month a five-year work pass, with the added benefit that their dependents can also work in Singapore. Exceptional individuals in fields such as sports, arts, science, and academia who may not meet this income threshold can still qualify for a long-term visa under the scheme.

Singapore is not alone in vying for high-caliber foreign talent, with countries like Germany, the UK, the UAE, and Thailand launching similar programs to attract these influential figures. Prime Minister Lee underscored the importance of building a “world-class talent pool” in Singapore, despite the trend of countries turning inward as globalization slows. He stressed that to remain competitive, Singapore must secure top international talent.

PM Lee remarked, “When it comes to top talent, we can never have enough. In this era, talent is key to a nation’s success. We need to focus on attracting and retaining top talent just as we do with investments.”

Echoing these sentiments, Dr. Tan pointed out that other countries are also vying for elite global professionals, creating fierce competition. “We are in hyper-competition mode,” he said, adding that Singapore’s approach is focused on quality rather than quantity. He clarified that there is no fixed quota for the ONE pass, given the exclusive nature of the talent they aim to attract.