Coronavirus: Economy

DPM: S'pore can be resilient advanced manufacturing base

South-east Asia, Singapore in good position as companies reconfigure supply chains

Deputy Prime Minister Heng Swee Keat spoke at the opening ceremony of the Industrial Transformation Asia-Pacific conference.
Deputy Prime Minister Heng Swee Keat spoke at the opening ceremony of the Industrial Transformation Asia-Pacific conference. ST PHOTO: KEVIN LIM

Singapore is committed to developing and growing cutting-edge capabilities, such as in robotics and 3D printing, to position itself as a more resilient advanced manufacturing base in Asia, for the world.

Underscoring the country's aim to further industrial transformation and growth in the region, Deputy Prime Minister and Finance Minister Heng Swee Keat yesterday announced initiatives to boost its manufacturing sector.

These include a new training programme office called the Advanced Manufacturing Training Academy (Amta) that will plan ways to ensure the manufacturing workforce has emerging skills and knowledge.

Speaking at the opening ceremony of the Industrial Transformation Asia-Pacific (ITAP) conference, Mr Heng also announced a partnership with the World Economic Forum for a global roll-out of the Singapore-developed Smart Industry Readiness Index (Siri).

These efforts aim to continue the upward momentum of the manufacturing sector, which grew about 3.5 per cent year on year in the first six months of this year. Manufacturing contributes about 20 per cent to Singapore's economy and employs around 472,000 workers.

The upcoming Jurong Innovation District (JID), which has attracted $420 million in investments over the past year despite the Covid-19 pandemic, is "shaping up as the one-stop advanced manufacturing hub in Singapore", Mr Heng said, noting that companies like Siemens and Hyundai will have facilities in JID.

"Singapore can also be a more digital and more resilient advanced manufacturing base in Asia, for the world. I am glad many companies continue to keep faith with Singapore during the crisis," he said.

As manufacturers rethink production and supply chains, there is a greater premium on resilience, he said, adding: "South-east Asia and Singapore are in a good position to be part of this reconfiguration of supply chains in the coming years."

Singapore is also strengthening its digital and maritime connectivity, and restoring air connectivity.

Mr Heng sketched out three ways Singapore will continue efforts to be a "Global-Asia node" for technology, innovation and enterprise.

The first is in the area of setting standards. The global expansion of Singapore's Siri, which identifies ways manufacturing companies can transform to meet future challenges, will create opportunities for the country and its international partners to learn from one another.

The second is in human capital development. Mr Heng held up collaborations like the Global Technology Innovation Village, which will be set up by the Asian Development Bank and Singapore Polytechnic to train regional government and business leaders in emerging tech areas such as artificial intelligence and 5G.

Third, Singapore has been working to strengthen international business links. Mr Heng cited the Germany Singapore Business Forum Connect, which aims to encourage links between Singapore firms and German companies with a presence in Asean. "By working together and strengthening regional integration, South-east Asia can fulfil its potential as a regional manufacturing powerhouse," he said.

Mr Heng added that an area Singapore will be investing more in is sustainability, and it welcomes ideas and partnerships on this front.

"We are going to invest in sustainability in our research and development work. We look forward to collaborating because this is a global challenge, and only through global collaboration can we resolve this."

In its third edition, the annual ITAP conference will see world-renowned experts and industry leaders engage in discussions about the manufacturing industry. Due to the pandemic, the three-day event is being held in a hybrid manner, where speakers and guests will participate in discussions in person and virtually.

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A version of this article appeared in the print edition of The Straits Times on October 21, 2020, with the headline DPM: S'pore can be resilient advanced manufacturing base. Subscribe