Government officials and local businesses are uncertain whether Singapore, which is one of the world’s fastest-growing economies, can maintain strong economic growth levels over the next decade. As reported by The Wall Street Journal, the export-heavy Asian country is trailing other regional competitors in productivity and has been negatively impacted by the global financial crisis as its primary consumers, the United States and Europe, struggle to fully recover.

An economic strategy committee composed of public and private sector representatives has proposed measures to decrease reliance on foreign labor, such as increasing the focus on research and development and tightening immigration rules. The proposal regarding immigration rules is controversial, given that many employers rely on foreign labor to contain costs. Although the proposals are non-binding, the government is expected to respond to the report in its 2010 budget statement, to be released on February 22.