Channelnewsasia Forum, 5 Feb 2013
THE Singapore Business Federation acknowledges the importance of the Population White Paper's projections for the medium to long-term growth of Singapore. A shrinking and ageing workforce amid the backdrop of a stagnant Total Fertility Rate (TRF) will have serious implications for businesses and the economy. It is vital that Singapore achieves consensus and lends support to these important issues.
Despite total population projected to reach 6.9 million by 2030, Singapore businesses will be impacted by slower workforce growth from 2013 to 2020 at only half of the average growth rate compared with the past three decades.
From 2020 to 2030, workforce growth is projected to decrease even further. This will constrain businesses and limit growth. It will have devastating consequences for many companies. Full story
