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I do realize the people are upset about foreign workers. But you do have to realize that Singapore is a country with no other resource than its infrastructure and people. Given a job description that can be filled, companies will go to the one that has the least cost (after accounting for all costs such as taxes, logistics etc).
You need to either upsize your skill or your job if you feel threatened. There is no free lunch. All the Singapore government can do is to give you a decent education and try to attract businesses to locate here.
I lead a team of 5 people. 1 Singaporean, 2 Indians, 1 taiwanese and 1 Malaysian. It is very difficult to find the people with the right skill regardless of nationality. If I cannot find people, than the business I support would just go away (not just my team but all other supporting services which would have Singaporeans as well). This is my second career. My first one was as an Engineer.
My company has a sort of a mini MBA school for promising junior IT staff. Of the 20 or so people in that programme, only 1 was local. But the person they tapped as the outstanding person in that programme was a Singaporean.
She was articulate and spoke very well. Her bosses said when she was sent to Switzerland, she fitted in like she had been there for years. That is the kind of "talent" we should aim for. Be better than just being able to do stuff that any half competent university or polytechnic can churn out. Be able to do multiple tasks/jobs and communicate and just plain do the job better.