Business

Manufacturing revolution an opportunity

Singapore is poised to be part of new global value chains in manufacturing amid a technological revolution, Deputy Prime Minister Tharman Shanmugaratnam said yesterday.

DPM Tharman said at the launch of a new manufacturing research and development centre for American electronics firm Jabil in Tampines that emerging technologies are shortening many value chains and letting products be made closer to the customers.

He said: "This manufacturing revolution is both (a) challenge and opportunity for Singapore. We are positioning ourselves to be part of this revolution, and to be part of the new global value chains."

This would involve not only being where cutting-edge goods such as biosensors are made, but also supporting the high-value activities that accompany manufacturing - from research and development and data analytics to intellectual property protection and logistics management.

Being well placed to ride the wave also means Singapore workers must "develop deep skills", DPM Tharman added. - ANNABETH LEOW

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