Manufacturers worried over increase in foreign workers levies

Business costs will be immediately affected.

According to a release by the Singapore Manufacturing Federation about the Budget 2013, the organisation said the increase in foreign worker levies and the increase in qualifying salary for S Pass holders will have an immediate impact on business costs.

They acknowledge the assistance that will be provided by the Government through the various incentives. However, manufacturers will still face challenges in attracting and retaining workers in this sector.

In addition, the pace of transformation will also be a major challenge and concern to manufacturers.

“Notwithstanding the high level of productivity in the manufacturing sector, there is a need for manufacturers to achieve greater innovation and productivity in order to stay competitive and to achieve long-term sustainable growth,” commented Mr. George Huang, President of SMF.