MOM, MTI roll out Manpower for Strategic Economic Priorities scheme
The scheme complements recent changes to the work pass framework.
The Ministry of Trade and Industry (MTI) and Ministry of Manpower (MOM), and other economic agencies, have rolled out a scheme that aims to support firms seize opportunities to grow in the Lion City whilst securing jobs and training opportunities for Singaporeans in the process.
The Manpower for Strategic Economic Priorities (M-SEP) scheme also complements changes to the work pass framework.
“The scheme gives qualifying firms the flexibility to temporarily hire S Pass and Work Permit holders above the prevailing Dependency Ratio Ceiling (DRC) and S Pass sub-DRC,” the MTI and MOM said.
Firms must also commit to employing and/or training locals.
“Eligible firms can obtain additional S Pass and Work Permit quotas of up to 5% above their base workforce headcount, subject to a cap of 50 workers per firm. Such additional flexibilities accorded under the M-SEP scheme will last for two years upon enrolment and may be renewed thereafter, subject to meeting renewal conditions,” the agencies explained.
Here are other conditions which firms must satisfy to qualify for the scheme:
1. Participate in programmes or activities in line with one of the following economic priorities:
- Investments which support Singapore’s hub strategy
- Innovation or Research & Development (R&D)
2. Commit to hiring and/or training locals.
“To be eligible for M-SEP renewal, firms will have to show that they have met both commitments by the end of the M-SEP support period. Firms will also have to maintain their local workforce share during this period. Those that fail to do so will be suspended from M-SEP for two years,” the agencies said.