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DPM Heng: New $1B Jobs Growth Incentive To Help Firms Increase Hiring of Local Workers

The Singapore government has pledged close to S$100 million over 4 budgets to support people, businesses during the Covid-19 crisis.

In a ministerial statement on Covid-19 support measures on Monday (17 August), DPM and Finance Minister Heng Swee Keat said that to support hiring in growing sectors, the government will launch a $1 billion Jobs Growth Incentive (JGI) to help firms to increase their headcount of local workers over the next six months.

The JGI supports efforts to create new jobs for workers, with a special focus on mature workers, he added.

Biomedical sciences, financial services and infocomm and technology (ICT) sectors continue to need more workers, said Minister Heng.

The public healthcare and long-term care sectors are hiring and some firms in the F&B and manufacturing sectors are growing and innovating.

The government will co-pay up to 25 per cent 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 per cent.

Featured Image Credit: Singapore Business Review

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