The government is deluding itself if it thinks MNCs here are creating jobs for locals.
With the rise in our university educated population, the relatively small proportion of jobs for degree holders has become more intense, not less, because the jobs available for degree holders is still the same.
Look at this recent job advertisement by a cocoa MNC: French national preferred but must be fluent in English
It says “French national” preferred, but the position is based in Singapore. The position requires the manager to handle the “emerging Southeast Asian market”, but they want a French national and not a Singaporean with local knowledge and contacts? It says alot about their company hierarchy.
So the next time the government says foreign companies are creating jobs here, better ask them “For whom?”