Singapore manufacturing: A key pillar

MTA Singapore 2013 opens from 9 to 12 Apr 2013 at Singapore Expo.  The show is one of the most anticipated events for the manufacturing industry in Asia.  500 exhibitors from 31 countries and regions are showcasing latest precision engineering and machine tool technologies.

Mr. Lee Yi Shyan, Senior Minister of State, Ministry of Trade & Industry and Ministry of National Development, is the Guest of Honour.  He says that the manufacturing sector continues to be a key pillar of Singapore’s economy.  It accounted for 20% of the GDP or S$60.2 billion in value added.  Manufacturing employs over 400,000 workers.

“The precision engineering (PE) industry accounts for about 15% or S$8.8 billion of Singapore’s manufacturing value added and employs close to a quarter of Singapore’s manufacturing workforce, Mr. Lee said.

“Singapore’s precision engineering industry has evolved significantly over the years.  From its initial traditional role as a supporting industry within Singapore, the precision engineering industry is continually evolving and transforming itself to serve global markets from Singapore.  High value added activities are also contributing to the growth of the complex equipment and component original equipment manufacturer or OEM segments.”

Mr. Lee also says that as the precision engineering industry in Singapore transforms and moves up the value chain, it is paramount that we remain competitive and continue to stay at the forefront of technology.

For a video excerpt of the speech, please click here.