SINGAPORE: Manufacturing companies need to invest in technology and adopt new manufacturing practices to stay relevant in the digital economy, Minister of State for Trade and Industry Koh Poh Koon said on Wednesday (Oct 12).
Speaking at the opening ceremony of Manufacturing Solutions Expo 2016, Dr Koh urged companies to "adopt an open mindset and take advantage of the opportunity to learn about new ideas and practices that can support growth".
"I am confident (that) if our companies are willing to embrace change, and if we work closely together, we will be able to transform our industries and be in a strong position to seize new growth opportunities," he said.
Organised by Singapore Manufacturing Federation (SMF), the trade exhibition at Suntec Singapore Convention and Exhibition Centre aimed to link manufacturers with technology providers such as Government research agency A*STAR.
At the event, A*STAR launched several initiatives designed to make operational processes more efficient and reduce clerical work, including a manpower scheduling system and a mobile workflow technology system.
The research agency's manufacturing arm, Singapore Institute of Manufacturing Technology (SIMTech), also signed a Memorandum of Understanding with SMF as part of its efforts to accelerate industry adoption of advanced technologies and innovation.