Small and medium-sized enterprises (SMEs) will form the core of a new $62 million biomedical hub at Tuas Biomedical Park, supporting the global industry giants already based there.
Multinational biomedical giants such as Pfizer, Roche and Amgen will benefit from better efficiency as they rely on services offered by the SMEs, said Minister of State for Trade and Industry and National Development Lee Yi Shyan.
The biomed SMEs offer support services to the multinationals such as plant fabrication, maintenance and equipment calibration, said Mr Lee at a groundbreaking ceremony on Thursday.
Having the SMEs in the park meant support services such as process equipment and laboratory supplies could be pooled, he added, which would boost efficiency for multinationals at the park.
The eight-storey JTC BioMed One will include a "vendors hub" for as a resource for biomed SMEs based there.