According to the Straits Times (here ), Mr.Lee Hsien Loong said that "Foreign workers help create good jobs for Singaporeans". It would have made some sense if he had said foreign investors!
There are few nations which would accept the building of an electronic plant, if it required that 40% of that factory's workers be foreign. There will be negative effects in terms of social issues, housing, and overcrowded subways among others. In a small nation, such effects will be magnified.
This is not natural growth. It is a forced, unnatural push to meet some target.
Possibly a target which will result in a higher bonus for the Prime Minister and his team!