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SINGAPORE: A third of the output from Singapore's electronics sector will come from four key areas by 2020 – green electronics, bioelectronics, plastic electronics and security.
The Economic Development Board (EDB) believes these are growth areas and is already pre-positioning the Singapore economy for them.
The electronics industry has been a key pillar of Singapore's economy. But with more competition, the country has been looking at new ways to help the sector evolve and move up the value chain.
Tan Choon Shian, deputy managing director, EDB, said: "Demand trends in Asia for clean energy and innovative healthcare solutions will drive innovative medical device needs and therefore, bioelectronics components.
"Plastic electronics will be ready because when it's at the right price point and it's the right application – consumers will want it for all the advantages. And security remains a very important aspect of our lives."
Currently, electronics, bioelectronics, plastic electronics and security account for just 10 per cent of Singapore's electronics output. But EDB expects that figure to triple to 30 per cent in just a decade.
Speaking at a conference on the latest developments in Singapore's electronics sector on Thursday, EDB said manufacturing will continue to feature strongly in the local electronics industry.
Singapore already leads in areas such as semiconductors and hard disk media. Industry players, too, said there is room to grow Singapore's electronics industry.
Francois Guibert, CEO (Asia Pacific), STMicroelectronics, said: "There is still strong growth, and even if it's not the one of the past 40 years, it's still a very significant growth for the next 40 years.
"I am sure that as we have done for cellular phones and for smart cards and for TVs and so on with the flat panel, there will be that kind of soft innovation and opportunities for the next 40 years in terms of product development and technology."
EDB sees the electronics sector as a strategic growth enabler for other industries. It said electronics often drive demand in the logistics, chemicals and precision engineering industries.
This will also enhance capabilities in other sectors such as avionics, medical technology and clean energy.
- CNA/so
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