Having A Minimum Wage

Are there valid reasons for Singapore to think that having a Min Wage will make us less competitive when our Asean neighbours have all done so? Our workforce is highly educated, understand the meaning of efficiency & productivity, knows that time = money…does that not justify for our Singaporeans to be deserving of a Min Wage?

Quote…”Despite rising salaries, minimum wages in the majority of ASEAN countries remain significantly lower than those in the developed economies of the world.” unquote.Quote “…according to Daniel Kostzer, a senior regional wage specialist for the International Labour Organisation (ILO), it is the discipline and hardworking nature of workers in the region that is the main pulling factor. Even if minimum wages are to be increased, the character and resilience of these workers should be enough to make international companies in the region want to stay…” unquote.

Quote..”On the whole, governments in the region should always have the interests of its people in mind; a justification to why policies are formulated and implemented for the masses. It might be a logical fallacy; a slippery slope, in saying that the output of workers will be higher if the minimum wage increases but chances are, workers will be contented (if not happy) to be able to sustain their own lives, as well as to meet the rigours of living in a fast-paced world that is highly competitive and demanding. Countries in Southeast Asia are on the right track in meeting this need by increasing the minimum wages of its peoples…” unquote

https://www.aseanbriefing.com/news/minimum-wages-in-asean-how-are-they-calculated/https://theaseanpost.com/article/minimum-wage-across-southeast-asia

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