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SINGAPORE: Singapore is proving a favourite location for research and development centres thanks to its sound infrastructure. More companies are setting up such facilities in the country.
The latest to do so is biomedical and environmental technology firm PerkinElmer. It is opening its second research facility less than a year after its first one. This trend is also expected to drive drugs development in the region.
No details were given about the value of the investment, but PerkinElmer said it represents the company's commitment to the region.
Dr Richard Eglen, president, Bio-discovery, PerkinElmer, said: "We think that the market potential here is certainly larger than one would see in Europe and North America in terms of its growth potential. Drug discoveries is one of the areas that will continue to be well supported throughout the current recession.
"This particular time is good for us because PerkinElmer is looking to this whole region, including China, India and Singapore as one of its growth areas for our products.
"Many of the large pharmaceutical companies have set up research operations here in Singapore and as a result of that, they are starting to develop their drugs here as well as to develop new biology and new research here.
"So with that level of investment here coming from these companies, it makes sense also for PerkinElmer to develop our business here as well."
Dr Andrew Wan, deputy executive director, Biomedical Research Council, A*STAR, said: "This will add to the richness of the R&D landscape. It will help to successfully translate discoveries that our scientists make in the laboratories into commercial products that can then be manufactured and sold.
"It will accelerate discovery and innovation of new treatments and those in turn will hopefully create new companies, new jobs for Singaporeans and also help to improve the standard of healthcare and of health in general for Singaporeans."
PerkinElmer said Singapore is known for its strength in life science research. In addition, the company said the drug industry is moving towards this region, so it makes sense for the company to expand its business here.
For Singapore, this is a validation of the quality of research and infrastructure in this city-state. - CNA/vm
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