Tehran, Singapore to boost labor ties

News ID: 3570867 -
TEHRAN, Mar. 02 (MNA) – Iranian labor minister said time is ripe for Iran and Singapore to expand cooperation on social funds.

During an MoU signing meeting with Singapore Minister for Trade and Industry S Iswaran on Tuesday in Tehran, Iranian Minister of Cooperative, Labor and Social Welfare Ali Rabiei said his Ministry possesses the largest economy fund adding “given that Iranian funds have the best support and warranty, the two countries are able to conduct fruitful cooperation.”

“With capital investment of savings in these funds, we seek to provide better life conditions in retirement for those covered by the funds,” he added.

Rabiei went on to note that “these funds can cooperate with Singapore in numerous areas including hospitality, petrochemical, transportation, aviation, pharmaceutical manufacturing, cement, ceramic, tile production, cellulose among the others.”

“During the sanctions, Iranian firms maintained activities despite all difficulties,” underlined the official saying “the crisis in retirement funds is receiving worthwhile attention being tackled in line with environmental, drought and unemployment.”

Emphasizing that the funds are in dire need of structural and parametric reforms, Rabiei pointed to the number of unemployed university graduates; “we require an eight-percent economic growth to great job opportunities for these people; in this regard, our priorities include industrial clusters, taking advantage of border provinces as well as expansion  of production, distribution and services cooperation.”

Singapore Minister for Trade and Industry S Iswaran, for his part, recaaled Iran’s capabilities in the areas of tourism; “certain infrastructures are necessary for the tourism industry which need to be provided.”

“Iranian Ministry of Labor undertakes momentous responsibilities in various sectors which can provide grounds for reinvigorating bilateral ties,” he continued.

Iswaran further touched upon the Singapore’s Social Security System explaining “the government opens one account for every employed national the balance of which will be spent on treatment, retirement as savings for large purchases.”

The official deemed vocational training as another possible venue for collaboration between the two countries commenting “we want people to pass courses in skill training centers before receiving a diploma since skills increase the chances of attracting more people into the labor market.”

 

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