Josephine Teo

The changes come as the number of travellers to the financial hub is expected to rebound to pre-pandemic levels by next year.

"There's still room for improvement, and every step of the way we are learning," says Josephine Teo.

The investment is anticipated to allow Singapore to tap into the global digital trust market.

The reshuffle will see changes in seven key ministries including the Ministry of Finance and the Ministry of Trade and Industry.

“The job market has a certain level of efficiency, and we are able to match employers and jobseekers,” says Manpower Minister Teo.

Of the 5,500 openings, 75% (or 4,125) long-term jobs are available.

Some 24,000 people have been placed under the SGUnited Jobs and Skills package as at end July, the Ministry of Manpower (MOM) revealed in the first of its series of weekly updates on Singapore’s job situation.

Under the new measures, the payment of foreign worker levies will be waived until September and then only gradually reintroduced.

“The challenge is not primarily the lack of job creation or jobs being created, but possible job-skills mismatches,” says Manpower Minister Josephine Teo.

SINGAPORE (Oct 28): “Closing the gaps requires both jobseekers and employers to be more open and flexible.” – Singapore’s Manpower Minister Josephine Teo, on the widening mismatch between job seekers and openings available