Singapore Launches S$1b Jobs Growth Incentive Programme to Boost Job Creation

August 18, 20205:17 pm2510 views
Singapore Launches S$1b Jobs Growth Incentive Programme to Boost Job Creation
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The Singapore government is introducing a new Jobs Growth Incentive (JGI) scheme worth S$1 billion as part of efforts to create new jobs. The initiative will focus on helping mature workers.

Under the scheme, the government will co-pay up to 25 percent of salaries of all new local hires for one year, subject to a cap. For those aged 40 and above, the co-payment to firms will be up to 50 percent, Business Times reports.

“There are bright spots amidst the severe economic situation. Our biomedical sciences, financial services, and ICT (information and communications technology) sectors continue to need more workers,” said Deputy Prime Minister and Finance Minister Heng Swee Keat on Monday (Aug 17). 

“The public healthcare and long-term care sectors are hiring. Some firms in the F&B (food and beverage) and manufacturing sectors are growing and innovating.” 

See also: Socso approved RM8.97 bil under Wage Subsidy Scheme

According to the minister, the programme will support firms to increase their headcount of local workers over the next six months.

The Ministry of Manpower will provide more details later this month. 

Mr Heng also noted that to better flow workers to new opportunities, the government has set up 24 SGUnited Jobs and Skills Centres in the heartlands. 

“I encourage jobseekers to visit these centres and make the best of the resources available – to find a suitable job, traineeship, attachment or training. This way, you are better prepared when the job market recovers.”

Read also: More than 140,000 Singaporean Employers to Receive Wage Payouts from July 29

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