SINGAPORE intends to release tripartite guidelines on non-compete clauses in the second half of 2024, said Manpower Minister Tan See Leng in Parliament on Tuesday (Feb 6). The Manpower Ministry (MOM) announced last year that it is working with tripartite partners to develop such guidelines for the reasonable use of non-compete or restraint of trade clauses in employment contracts. Such clauses generally prevent employees from joining an industry competitor shortly after leaving their job. Dr Tan’s response built on earlier replies to Members of Parliament on Monday, on employment-related issues such as retrenchments, collective agreements and non-compete clauses. On Tuesday, he said: “We understand that overly restrictive restraint of trade clauses can disadvantage retrenched employees and create difficulties in finding employment.”   https://www.businesstimes.com.sg/singapore/economy-policy/singapores-tripartite-guidelines-non-compete-clauses-be-released-second (ICE SINGAPORE)

Fonte notizia: The Business Times, 6 February 2024