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SINGAPORE: The manufacturing sector can aim to provide a more than just production.
Firms can aim to integrate services, taking advantage of Singapore's existing logistics, research and marketing infrastructure to provide more complete solutions to clients.
As firms increasingly move towards providing logistics support, after-sales services and products design, Singapore's manufacturers have been urged to follow suit.
And according to Trade and Industry Minister Lim Hng Kiang, this is particularly so when Singapore is already a regional services centre.
Mr Lim said: "We already have well developed professional and business services that complement manufacturing activities and vice versa. By being a home to a companies' entire suite of solutions, we can entrench them further in Singapore. We are not just deepening our capabilities in each cluster or sector but also capturing the value between the sectors."
And to help position Singapore as launch-pad pad for firms looking to tap Asian spending, an Institute of Asian Consumer Insights is being set up.
The institute will be aimed at conducting research and collecting data on the consumer sector to bring additional value to consumer firms based here.
Mr Lim said: "We can strive to be a leading consumer business centre in Asia where consumer insights are developed and consumer-centric businesses managed and grown. We will build a cluster of companies in the consumer-related fields of marketing, branding, consumer research and market intelligence."
Also in parliament on Monday, members called for greater integration between government bodies to assist growth in local small- and medium-sized enterprises.
They said it would integrate the overseas aspirations of firms, while supporting the growth of start-ups, this creating a complete chain of support for SMEs. - CNA/vm
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