Singapore is one of the world’s leading E&C hubs today. The E&C sector creates significant value for Singaporeans and the wider economy. In 2020, it contributed around 3% of Singapore’s GDP and one-fifth of its output. It employs over 27,000 people, including many Singaporeans who enjoy well-paying jobs and good career progression. The E&C sector also has strong linkages to other sectors such as trading and logistics. Just as importantly, as an export-oriented sector, it helps plug Singapore into the world, hence helping to maintain its relevance, and giving the world a stake in the city-state’s success.
The E&C sector will continue to play a vital role in supporting domestic and global needs for many years to come. The companies produce chemicals which are the building blocks for many everyday items, from diapers to plastics to healthcare items too. Globally, the demand for chemicals is expected to see strong growth, and Singapore is well-positioned to capture this growth. But there is one major challenge which the sector must confront, and that is its impact on climate change.
The good news is that the sector is not standing still. It has recognised the existential impact of climate change on its future and has started to respond proactively. In line with this, EDB has released the Sustainable Jurong Island report, which details the government’s aspirations, targets and plans to transform JI into a sustainable E&C park – a vision which was first outlined in the Green Economy Pillar of the Singapore Green Plan 2030 that the Government announced earlier in early 2021.
Download the full report for more details.
