Minister of State (T&I) Teo Ser Luck was the Guest-of-Honour at the Global Space and Technology Convention (GSTC).  Satellite technology manufacturing and services is a new growth area which EDB has recently started exploring. The industry's economic value is well-established by international studies, and has been growing at a GAGR of 8.2% since 2005 to be worth US$277 billion in 2010. Leveraging on the existing pockets of space capabilities and adjacent capabilities in established industries including the aerospace, precision engineering, communications and electronics sectors, Singapore can capture the opportunities and great value that the space industry presents.

With the successful deployment of the first satellite (called "X-sat") fully-integrated in Singapore last April, GSTC 2012 is a platform to promote Singapore as a compelling location for space-related research and development, as well as an exceptional launch pad where pioneering and innovative concepts can be driven from.