The new points-based immigration system will attract the best entrepreneurial talent from Singapore and East Asia, the Government has said.
The claim comes after the launch of the UK’s new immigration system, which is set to end visa inequality between EU and non-EU residents.
Singapore is a major international trading hub for UK businesses. According to the latest statistics, some 4,000 UK companies have an active presence in the region, which offers a gateway to East Asia markets. But now with the introduction of new immigration laws, the UK can afford to offer the same courtesy to Singaporean businesses, entrepreneurs, and academic talents.
According to the UK Government, the new immigration system will strengthen ties between the two regions, which already benefit from several bilateral co-operation agreements, such as digital governance, data protection regulation, financial co-operation and research and development
Commenting on the announcement, British High Commissioner to Singapore, Kara Owen, said: “By attracting the best talent from around the world, the new points-based system supports an increase in people to people exchanges and knowledge partnerships – both of which are key focus points for us in Singapore.
“We are committed to working together on trade, investment, science and research that will help ensure the continued prosperity of both our nations and to invest in the futures of our younger generations.”
According to recent statistics, the UK services sector posted record trade figures in Asia in 2019, increasing exports to by 1.9 per cent to £42.1 billion. The services sector includes retail, banks, hospitality, real estate, education, media and other recreational activities.
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