Global Immigration Immigration News

On 22 July 2011, Lee Kuan Yew, Singapore's first prime minister after the end of British Rule, defended the ruling People's Action Party's stance on encouraging skilled immigration to spur the city-state's economy.

During a South Asian Diaspora Convention, Lee said that foreigners who come to Singapore do so to become citizens; He went onto say that he was a "firm believer that the more talent you have in a society, the better the society will grow."

A new report says that more skilled Asians are choosing to emigrate to other Asian countries such as Singapore and Hong Kong rather than Western Countries such as the UK, Australia, and Canada.

Singapore is becoming an increasingly popular destination for Indian professionals; Thanks to continued economic growth there are plenty of opportunities for Indians and others. For example there is increasing demand for overseas labour from the financial services and banking industries.

According to Prem Xavier Raj of the Australia and New Zealand Banking Group in Singapore, the financial services industry in Singapore is one of the biggest employers of Indian talent.

Prime Minister Lee Hsien Loong says that his new cabinet will review issues of concern for Singaporeans, including healthcare, housing, and immigration.

"We will take a totally fresh look at our problems and policies, and rethink what is necessary and best for Singapore's future. We will address the issues preoccupying Singaporeans, such as healthcare, housing, and immigration," Loong said during the swearing-in ceremony of his 15-member cabinet.

Singapore's status as a world financial hub has driven its economy to historic heights, prompting people looking for new job opportunities abroad to choose this Southeast Asian country as their immigration destination.

Singapore's foreign population has risen from 20 percent of the total population in 2001 to 36 percent today. In just one year in 2010 the country saw a 14.5 percent expansion in its economy; This is largely thanks to the large number of foreigners choosing to immigrate to Singapore.

The finance and import-export sectors in Hong Kong are having a hard time filling vacancies from the local population, prompting many firms to look abroad for workers.

The unemployment rate in Hong Kong is hovering around 4 percent, which is low compared to other developed nations many of whom are still recovering from the global financial crisis of 2008.