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Do you agree that services will
play a key role in driving economic growth in 2010? What
are the implications for businesses and the overall Singapore
economy?
By Joshua Yim, CEO ACHIEVE Group
As a human capital solutions provider, we have already experienced
an increasing demand for workers in the services sector
over the past two quarters.
Defined by lifestyle, healthcare, hospitality,
finance and professional services, the services sector is
always a key economic propeller in mature economies such
as Tokyo, London and New York.
Correspondingly, it will be the eventual
direction Singapore would head towards next year and beyond.
In contrast, demand in the manufacturing area tends to be
weaker except for high innovation areas such as R&D.
This is inevitable as Singapore has become
too expensive in terms of labour cost.
[Source: The Business Times]
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