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SINGAPORE : Singapore should step up manufacturing productivity by upskilling workers and staying innovative, said Finance Minister Tharman Shanmugaratnam on Thursday.
He was speaking at the Manufacturing Excellence Award celebration dinner in the evening.
He believes the country is positioned for a new phase of growth in manufacturing, saying Singapore can be a base for local and global players to tap into opportunities in Asia.
Mr Tharman added that manufacturing should continue to contribute between 20 and 25 per cent to the nation's economy.
He said: "It is not pre-ordained that manufacturing becomes unviable as an economy becomes more developed and wages rise.
"We have to enhance manufacturing excellence by training and upgrading our people, by developing and adapting new technologies, and through operational excellence."
- CNA/al
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