Singapore industrial landlord JTC Corporation is laying the groundwork for the Republic to develop a world-class advanced manufacturing ecosystem, the kind many countries are now racing to build, in a bid to draw global tech talent and investment.
But the competition to dominate cutting-edge technology has grown far more complex. Companies that governments around the world are trying to attract are no longer making investment decisions based on cost alone.
As the global economy fractures along geopolitical fault lines, these next-generation manufacturing companies are now seeking locations that ensure some degree of supply chain resilience.
Factors such as the host country’s focus and policy framework on sustainability, research, and innovation have also become more critical than ever before.
This has prompted many countries to roll out comprehensive investment strategies to draw these companies. In Singapore, the Economic Development Board leads the nation’s investment promotion and industry development efforts.
Singapore has long understood that beyond these factors, its infrastructure readiness can provide it with the competitive edge to compensate for its small size and lack of natural resources.