Facing a shortage in skilled manpower, the Taiwanese government is mulling changing its immigration requirements to attract talent to its economy.
The country is facing both rising youth unemployment and job vacancies, a sign of a skills gap. Taiwan had a shortage of 233,000 workers at the end of February, translating to a job vacancy rate of 3.01 percent, while youth unemployment stood at 8.9 per cent.
Singapore launched its SkillsFuture movement back in 2014 to address the potential mismatch of skills and workers. As part of a move to restructure the economy, the country has also tightened the flow of foreign workers into the economy to get companies to reduce their reliance on labour inputs.