The ONE pass initiative aims to streamline the hiring of top professionals in various fields.
Minister of Manpower Tan See Leng elaborated on the “offensive strategy” aimed at attracting top global talent to Singapore, a strategy mentioned by Prime Minister Lee Hsien Loong during his National Day Rally speech last month.
“What we truly hope to bring to Singapore are the rainmakers,” Dr. Tan stated, referring to the Overseas Networks and Expertise (ONE) pass, which was introduced last week and is scheduled to take effect on January 1, 2023.
In an interview with Bloomberg Television’s Juliette Saly on Monday (Sept 4), the minister 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 effort to ease the hiring of expatriates amid a tight labor market.
When discussing the term “rainmakers,” he referred to leaders in fields such as science, finance, culture, and sports. “We are always open for business, always open for global talent,” he conveyed to Bloomberg.
The ONE pass allows expatriates earning at least S$30,000 per month to obtain a work pass valid for five years, with their dependents also permitted to work in Singapore. Exceptional candidates in sports, arts, science, and academia who do not meet this salary threshold may also qualify for the long-term visa.
Singapore is not the only nation offering attractive packages for top foreign talent. Countries such as Germany, the United Kingdom, the United Arab Emirates, and Thailand have also initiated programs to attract these so-called “rainmakers.”
In his NDR speech, PM Lee emphasized the importance of cultivating “a world-class talent pool in Singapore,” despite recognizing the growing trend of globalization retreating and countries focusing inward. He noted that Singapore requires top foreign workers to maintain its competitive edge.
“When it comes to top talent, we can never have enough. In this era, talent is crucial to a nation’s success. We need to prioritize attracting and retaining top talent just as we do for investments,” PM Lee stated.
Echoing Dr. Tan’s sentiments, the Prime Minister highlighted that other countries are making significant efforts to attract international talent.
Minister Tan told Bloomberg, “In the competition for talent, we’re operating in a very heightened mode. There’s hyper-competition, and we are deliberate about what we disclose because we’re not focused on numbers; we’re after quality, not quantity.”
He added that there is no specific quota for the ONE pass, as these applicants are among the best in their respective fields. “I believe we can effectively manage those applications,” he concluded.
