Singapore continues to be a centre for innovation in Asia, said Minister in Prime Minister's Office and Second Minister for Home Affairs and Trade and Industry Mr S Iswaran.

The Republic already has an "ecosystem of global research agencies" based here, in addition to government efforts to faciliate innovation in sectors such as manufacturing, he added.

The minister was speaking on Friday at the launch of the McKinsey Asia Consumer Insights Centre, which will develop new insights for companies hoping to cater to Asia's fast-growing consumer base.