Singapore should position itself as the advanced manufacturing hub of Asia and lead adoption of new technologies in the region, said the International Advisory Council (IAC).

The IAC, chaired by Deputy Prime Minister Teo Chee Hean, comprises 14 members who lead business organisations representing a variety of industry sectors and geographical locations.

Singapore must remain focused on leveraging on the growth of Asia, especially Asean, and other emerging regions such as Latin America, the council said.

It also reiterated the need for Singapore to factor in the improving educational profile and changing aspirations of Singaporeans.