Singapore's Workforce Development Agency officially launched a Jobs Bank on Monday to help employers find local talent to fill vacancies at their firms.
The Manpower Ministry first announced the initiative last year in support of the Fair Consideration Framework, a move that the government said is aimed to ensure fair job opportunities for local residents.
Under the Fair Consideration Framework, companies seeking to employ foreigners holding an Employment Pass are required to post job vacancies on the Jobs Bank for at least 14 calendar days before submitting an EP application to the ministry.
Manpower Minister Tan Chuan-Jin said the Jobs Banks will complement existing government efforts and provide another avenue for Singaporeans to explore and apply for job opportunities, as well as allow employers to access a larger pool of local candidates.
Singapore has tightened its foreign labor policies in recent years since around the general election in 2011, when the immigration policies became an topic of heated discussions.
A trial version of the portal was launched in May this year, and more than 4,300 employers and 12,900 individuals have since registered to use the website.
The Workforce Development Agency said that more than 16,000 job opportunities are currently available to Singaporeans, and about half of these postings are targeted at professionals, managers and executives.
About 4,700 citizens and permanent residents -- foreigners with permanent residency in the city state -- have already made more than 12,100 job applications through the Jobs Bank