Good Day everyone, this is Tammy greeting everyone a wonderful day today. As we talk about Singapore mostly in our previous podcast, we become more in love with the country, how competitive their government is. How beautiful their tourist spots are and how friendly the people are. There are a lot of things that made us fall in love with the country. And many reasons to visit and live in that kind of country.
That’s why I love sharing things about Singapore, and all the things I know from that country. And so today, I would like to share again some great things about the country.
Many might be scared of finding a job in the country because of its strict policy for expats, or might be scared of building their business because of the strict requirements. There might be a few reasons not to pursue your dream in this country, but let me tell you that there’s nothing to worry about.
Good news for those who are in finance. Singapore is aiming to support finance jobs over five years in the coming year.
The country’s political stability attracts investors from all over the world, that’s why Singapore is very competitive as they are the global financial center.
As a result, they are allowing foreigners earning a certain amount per month to secure a five-year work pass. That’s the latest decisions I heard that are meant to address even if there is still a tight labor market.
As a matter of fact Singapore has already exceeded the targets set in its previous five-year plan ended 2020, having created more than thousands of jobs and attracted 2billion in total investments.
And you know what’s good news? There’s more than 200hundred thousand people were employed in the financial-services sector last year.
They ensure Singapore maintains its position and relevance as a leading and open financial center, The New York-based firm is also supporting the country as they sent more than 8,500 people in Singapore, and is one of the largest foreign bank employers.
The S$ currency
There was a time where Singapore’s dollar has established itself as Asia’s most resilient currency against the US dollar, and some strategists thinks that it will tighten its exchange-rate. Because of the aggressive rate hike of the Federal Reserve, the predictions is the the Singapore currency will retreat.
The central bank focuses on the level of the Singapore dollar’s nominal effective exchange rate.
Still, the Singapore dollar slumped to its lowest in more than two years earlier last year before paring its 2022 decline to approximately 4%. The central bank maintained its 2022 inflation projections last August, projecting the inflation to go down sooner.
So yes, that’s it for today! If you have any questions please feel free to let us know!
Thank you everyone for listening, and have a good day!