A FULL report on the performance of Singapore’s Overseas Networks and Expertise (One) Pass for top foreign talent will be given after Budget 2025.
This will be in the Ministry of Manpower’s (MOM) Committee of Supply (COS) debate, Manpower Minister Tan See Leng said in Parliament on Wednesday (Feb 5). After the Budget debate, each ministry’s own budget is up for scrutiny in its respective COS debate.
Dr Tan was responding to Workers’ Party Member of Parliament Gerald Giam, who asked if MOM has assessed the economic impact of the One Pass since its launch in 2023, and if so, whether it could share key findings.
The upcoming “balanced scorecard” will take into account “what kind of return of social equity” One Pass holders bring about, said Dr Tan.
Earlier in his reply, Dr Tan said that MOM is working with other sector agencies to increase the outreach to global talent and raise greater awareness of the One Pass.
“We encourage One Pass holders to participate in local programmes, to mentor, to network and to exchange insights with current and future generations of local leaders,” he added.
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The minister was responding to Nominated MP Neil Parekh, who asked what improvements to the One Pass have been considered.
The One Pass is open to top talent across all sectors, and allows them to start, operate and work for multiple companies at any one time. To qualify, applicants must earn a monthly salary of at least S$30,000, either within the past year or with a future employer in Singapore.
In a written reply on Tuesday, Dr Tan said that Singapore granted 3,000 One Passes in 2024. Of these, one in six was granted to new applicants – meaning they did not convert from an existing Employment Pass.
He added that the top three sectors in which One Pass holders were employed were financial and insurance services; information and communications; and professional services.
