In an effort to attract more entrepreneurial spirit to Singapore, the government recently announced a new job pass scheme to attract foreign entrepreneurs to the island country. The Ministry of Manpower (MOM) passed a new scheme called "EntrePass" on October 31, 2003. Instead of simply utilizing traditional criteria of education and salary as a means to grant foreign entrepreneurs entry into Singapore, the MOM will also consider recommendations by the country´s economic agencies when issuing EntrePass. Other criteria that will be considered include the growth potential of the business plan as well as funding.

This move is seen as a huge boost in promoting Singapore as a regional business hub. Dr. Ng Eng Hen, Acting Minister for Manpower, commented, "We recognize that good business ideas can come from people from all over the world, from all walks of life. To help our economy grow, we need to allow people with good ideas to enter Singapore. We want them to use Singapore as the base for their businesses, and this will create jobs for Singaporeans."

Foreign entrepreneurs interested in applying for EntrePass can visit MOM´s website at www.mom.gov.sg for eligibility information. The pass is valid up to two years for new applicants and up to three years for renewals.