SINGAPORE – Despite the disruptions arising from the Covid-19 pandemic, Singapore remains an international standout for technology, innovation and enterprise in the manufacturing sector.
Underscoring the country’s aim to further industrial transformation and growth in the region, Deputy Prime Minister and Finance Minister Heng Swee Keat on Tuesday (Oct 20) sketched out three ways Singapore will continue efforts to be a “Global-Asia node” for technology, innovation and enterprise.
Speaking during the opening ceremony of the Industrial Transformation Asia-Pacific (Itap) conference, he said the first is in the area of setting standards.
Mr Heng noted that Singapore has developed the Smart Industry Readiness Index (Siri), which identifies ways manufacturing companies can transform to meet future challenges. On Tuesday, the Economic Development Board (EDB) announced it would be partnering with the World Economic Forum to globally expand the adoption of Siri.
Second, Singapore has made strides in the area of human capital development, said Mr Heng. He held up collaborations like the Global Technology Innovation Village, which will be set up by the Asian Development Bank and the Singapore Polytechnic. This platform will train regional government and business leaders in emerging tech areas such as artificial intelligence and 5G.
Thirdly, Mr Heng pointed out that Singapore has been working to strengthen international business linkages. He gave the example of the German Singapore Business Forum Connect, which aims to encourage professional relationships between Singapore firms and German companies with a presence in South-east Asia.
“By working together and strengthening regional integration, Southeast Asia can fulfil its potential as a regional manufacturing powerhouse,” he said.
In its third edition, the annual Itap conference will see world-renowned experts and industry leaders engage in discussions about the manufacturing industry.
Due to the Covid-19 pandemic, the three-day event this year is being held in a hybrid manner, where speakers and guests will participate in discussions in person and virtually.