Manufacturing to stay in S'pore: PM Lee
MANUFACTURING is here to stay in Singapore, as it generates good jobs, integrates with the service sector and broadens the economy, said Prime Minister Lee Hsien Loong this morning.
And a key component of the manufacturing sector is the biomedical sector, which has grown in strength over the past 40 years, since pharmaceuticals firm GlaxoSmithKline first planted roots into the Republic.
Speaking at the 40th anniversary of GSK's first manufacturing plant here, Mr Lee said GSK has an enduring partnership with Singapore, in which both parties have benefitted immensely from.
The biomedical service sector itself has generated 18,000 jobs and now accounts for about 5 per cent of the economy.