| |
Speech by Professor S Jayakumar, Deputy Prime Minister, Co-Ordinating Minister for National Security and Minister for Law, at the 2006 Distinguished Partner in Progress Award Presentation Ceremony on Friday, 3 November 2006, 12.30 pm at East India Room, Raffles Hotel
Your Excellency Sir Alan Collins, British High Commissioner to Singapore
Sir John Rose, Chief Executive, Rolls-Royce,
Mr Ko Kheng Hwa, Managing Director, EDB
Distinguished guests,
Ladies and Gentlemen,
1. We are here today to confer the Distinguished Partner in Progress Award on a very long-standing friend of Singapore - Rolls-Royce.
2. Since the 1950s when it first set up its representative office in Singapore, Rolls-Royce has been our partner in progress, growing in tandem with our economy through the decades. It continues to be a key player in the development of Singapore’s aerospace and marine industries. Starting with only a handful of employees, Rolls Royce today has over 800 staff, undertaking a wide range of activities including maintenance, repair and overhaul (MRO), sales & marketing, headquarters functions and research & development.
Singapore’s vibrant aerospace and marine sectors
3. When Rolls-Royce first arrived in Singapore, the aerospace industry was only in its infancy. In recent years, however, the industry has been one of the fastest growing with an average annual growth rate of 12% over the last 15 years. Last year, the aerospace industry generated an output of S$5.2 billion – a 17 percent increase from 2004, a record high. At present, we are the most comprehensive aerospace MRO centre in Asia Pacific, with a quarter share of the region’s market. To capture the strong growth in the aerospace industry, we are developing a new aerospace park in Seletar, spanning about 140 hectares, where companies can look forward to a modern, integrated park with dedicated infrastructure designed to support aerospace activities. Through its investments in state-of-the-art engine overhaul, maintenance and component repair, Rolls Royce has contributed significantly to raising Singapore’s aerospace capabilities and enhancing Singapore’s status as a global aviation hub.
4. In the maritime sector, Singapore is known internationally as the biggest ship repair nation, with 20 percent share of the world market for ship repairs. We also account for 70 percent of the world’s floating production storage and offloading platform conversions, and construct 70 percent of the world’s jack-up rigs. Singapore is also the leading location in the region for the building of Offshore Support Vessels and the manufacturing of oil and gas equipment. Rolls-Royce also has a strong presence in Singapore’s marine industry. Established in 1999, Rolls Royce’s original ship design office in Singapore has grown to become the regional headquarters and technical support centre for the company’s commercial marine business in Asia, with more activities to come.
Rolls-Royce’s ongoing R&D activities in Singapore
5. Moving forward, innovation and R&D are important areas that will drive Singapore’s growth. Rolls-Royce has contributed to Singapore’s R&D scene by carrying out a number of R&D activities here. They include the setting up of Rolls-Royce Fuel Cell Systems to develop and commercialise solid oxide fuel cell products. The Rolls-Royce Advanced Technology Centre is also looking at a broad portfolio of technology challenges, together with the Agency for Science, Technology and Research, or A*STAR, and its research institutes. These R&D activities are especially important as Singapore moves into an increasingly knowledge-intensive economy.
6. The Singapore Government as well is deeply committed to growing R&D. This year, the National Research Foundation and the Research, Innovation and Enterprise Council were established to drive the transformation of Singapore into a knowledge-based economy. According to the recent National Survey of R&D, investments in R&D in Singapore have increased by more than half a billion dollars, to $4.58 billion last year, with the bulk of spending coming from the private sector.
A vibrant environment for enterprises
7. As part of Singapore’s economic development strategy, we are attracting multinational companies in tandem with building our own global companies. We believe the synergy between these companies can spur more value-creation, thus making Singapore a more compelling location for investment and business. At the same time, we continue to invest in the quality of our human capital and maintain an open policy on attracting foreign talent to Singapore. We also have a robust intellectual property protection infrastructure. We plan to continually invest in these areas to create a more conducive business environment for companies to thrive.
Conclusion
8. Rolls-Royce’s positioning statement is “Trusted to Deliver Excellence”. The same can be said of Singapore as we share the same values of reliability, integrity and innovation. We look forward to working closely with Rolls-Royce to seek opportunities for more activities here across the value chain that will be of mutual benefit to Rolls-Royce and Singapore.
9. On that note, I congratulate the staff and management of Rolls Royce on its Distinguished Partner in Progress Award.
|
|  |
|
