Committee of Supply 2023 debate, Day 3: Alvin Tan on achieving Singapore’s Manufacturing and Services 2030 visions
Manufacturing remains the bedrock of Singapore’s economy, helping it to stay resilient during the COVID-19 pandemic. Significant progress has been made since the Manufacturing 2030 vision was announced in 2021. Last year, manufacturing value-added rose by more than 15 per cent from 2020. The sector also received a record S$17 billion in total fixed asset investment, driven primarily by investments in the semiconductor industry. These projects are expected to create more than 4,600 jobs over the next five years. Minister of State for Trade and Industry Alvin Tan shared these details in Parliament on Tuesday (Feb 28). He said Singapore plans to continue growing the manufacturing sector despite a more challenging global environment. It will do even more to attract frontier investments, attract more Singaporeans to the sector, and aim to be a frontrunner for tech-enabled manufacturing in areas like biotech and robotics, while exploring the space industry. Mr Tan also spoke about Singapore’s Services 2030 vision. He said that by 2030, the Government aims to entrench Singapore as a base for the global-Asia operations of multinational enterprises and large local enterprises, as an international trading, financial and lifestyle hub, and as a hub for talent, both local and global. He elaborated on developments and plans in three sectors - professional services, tourism and the green economy. Mr Tan announced that Singapore was recently certified as a sustainable destination based on the Global Sustainable Tourism Council’s criteria. Meanwhile, Sentosa Development Corporation will make Lazarus Island a “light-touch” destination, starting with low-carbon “tiny houses” available for short stays from April.
Manufacturing remains the bedrock of Singapore’s economy, helping it to stay resilient during the COVID-19 pandemic. Significant progress has been made since the Manufacturing 2030 vision was announced in 2021. Last year, manufacturing value-added rose by more than 15 per cent from 2020. The sector also received a record S$17 billion in total fixed asset investment, driven primarily by investments in the semiconductor industry. These projects are expected to create more than 4,600 jobs over the next five years. Minister of State for Trade and Industry Alvin Tan shared these details in Parliament on Tuesday (Feb 28). He said Singapore plans to continue growing the manufacturing sector despite a more challenging global environment. It will do even more to attract frontier investments, attract more Singaporeans to the sector, and aim to be a frontrunner for tech-enabled manufacturing in areas like biotech and robotics, while exploring the space industry. Mr Tan also spoke about Singapore’s Services 2030 vision. He said that by 2030, the Government aims to entrench Singapore as a base for the global-Asia operations of multinational enterprises and large local enterprises, as an international trading, financial and lifestyle hub, and as a hub for talent, both local and global. He elaborated on developments and plans in three sectors - professional services, tourism and the green economy. Mr Tan announced that Singapore was recently certified as a sustainable destination based on the Global Sustainable Tourism Council’s criteria. Meanwhile, Sentosa Development Corporation will make Lazarus Island a “light-touch” destination, starting with low-carbon “tiny houses” available for short stays from April.
Popular Shows
