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Industry Background
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Together, Singapore's petrochemicals and specialties sectors contributed S$33.7 billion of the manufacturing output in 2007. Singapore has grown to become a world-class chemical hub with excellent connectivity to end markets, and a trusted location for investors to execute their projects safely and successfully. As the chemical industry moves into its next phase of growth, Singapore's strategy involves building long-term sustainability with the development of competitive and diversified feedstock options, and a drive for higher value through specialty chemicals and advanced materials. This also involves enhancing value through research and development to meet evolving market needs and move the industry up the value chain. To support the growth of the industry, Singapore is an ideal location for companies to locate their business headquarters and manage various business activities that include manufacturing, research & development (R&D), sales, and supply chain management. Integration Offers Competitiveness and Cost Efficiencies Jurong Island with its "plug-and-play" infrastructure ensures companies can ramp up their operations and start-up quickly. Common pipelines, utilities and chemical logistics services allow companies to enjoy economies of scale and operational efficiencies. Moving forward, resource optimisation and emissions management will also be a strong feature as we continue to develop Jurong Island sustainably.
Trusted Base for High-Tech Manufacturing and R&D Just as proprietary manufacturing processes are key to the competitiveness of petrochemicals and advanced material companies, product differentiation is critical to the growth of specialty chemicals. Singapore is therefore investing heavily in R&D infrastructure and seeks to work with the industry to create new beginnings in Singapore. Given our strong respect and track record for intellectual property rights protection, Singapore is a choice location for technology-intensive and first-to-world manufacturing processes, as well as to undertake fundamental research, create platform technologies, develop new commercial applications, and deliver to the global markets.
Access to Skilled Talent Talent is the key enabler for this complex and dynamic industry. Singapore offers a strong pool of engineering and management talent, as well as skilled technicians, from a variety of distinguished academic establishments. Furthermore, Singapore offers companies an attractive location to draw and source top talent from all over the world, resulting in a truly motivated, productive and world-class workforce for the chemical industry.
Managing Global Business from Singapore Given the excellent infrastructure, global connectivity, manpower capabilities and talents, Singapore is the ideal business location for companies looking to set up their headquarters. Companies can leverage this pro-business environment to undertake a whole slate of business activities that encompass a diverse range of regional operations from sales, manufacturing, to R&D. With their headquarters based here, companies find that they are better positioned to serve customers and manage their operating entities, not just in Asia but globally.
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| Last updated:13 August 2010 | ||
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