For these firms, Heng says the government will co-pay up to 25% of salaries of all new Singaporean hires for one year. The co-payment will be subject to a salary limit.
The Singapore government will be launching the Jobs Growth Incentive (JGI) in a bid to support hiring in growing sectors such as the biomedical sciences, financial services, and information and communication technology (ICT) sectors.
The JGI is part of the additional $8 billion in Covid-19-relief announced by Deputy Prime Minister and Finance Minister Heng Swee Keat on Aug 17. It is a billion-dollar programme to support firms to increase their headcount of local workers over the next six months.
