Singapore Economic Development Board (EDB)

Congratulations to the National Day Awards recipients for 2024! Their names were revealed on 9 August – and special recognition goes to Dr. Roland Busch, President and CEO of Siemens, and Mr Tsutomu Tannowa, Chairman of the Board at Mitsui Chemicals Group. They have been conferred the Public Service Star (Distinguished Friends of Singapore) award! Siemens has been in Singapore for over 115 years. Under Dr. Busch’s leadership, Siemens in 2023 announced an investment of S$290m in a high-tech factory that will serve as its hub for Southeast Asia and create over 400 jobs, in addition to its existing 1,500-strong workforce. Dr. Busch is also the Chairman of the Asia-Pacific Committee of German Business (APA) and has served on Singapore’s Research Innovation and Enterprise Council since 2020. Mr Tannowa, Mitsui’s Chairman and former President and CEO, is a strong champion for the company’s growing presence in Singapore. The company has expanded its investments here to over S$1b since it first established operations in Singapore in 1966. As Mitsui’s key manufacturing base outside Japan, Singapore is home to the company’s elastomers and Prime Evolue plants. Led by Mr Tannowa, Mitsui also set up its first and only R&D centre outside of Japan in Singapore, working closely with A*STAR - Agency for Science, Technology and Research and other local partners to develop advanced materials, as well as chemical and biotechnological processes that are greener and more efficient. We look forward to deepening our partnerships with Siemens and Mitsui to fuel #innovation, create jobs and drive economic growth in #Singapore!

#SoutheastAsia, with its largely young and internet-savvy population of 670 million, is on track to becoming the world’s fourth-largest economy by 2030. Home to globally-leading businesses serving customers in the region and around the world, Southeast Asia also has a suite of innovative and creative enterprises tackling critical social and environmental challenges. In the Edges of Southeast Asia 2024 report, we feature 24 of the region’s most promising businesses. Download the report to: ⚪ Gain insights into #entrepreneurship, business #innovation and creativity in the region. ⚪ Identify high-growth sectors and opportunities. ⚪ Learn from the success stories of rising Southeast Asian companies. Edges of Southeast Asia 2024 is published by the Deloitte Centre for the Edge, together with EDB and the US-ASEAN Business Council.

Raj, an Operational Excellence Associate Director at Swiss healthcare manufacturer Lonza, says he was more of a "traditional pen and paper" guy. But he embraced technology to enhance his professional capabilities. At the age of 49, he completed a Singapore Workforce Skills Qualifications (WSQ) conversion programme that allowed him to transition from the electronics industry to pharmaceuticals. Now as he approaches retirement, Raj continues to immerse himself in new experiences – like buying a new Canon DSLR to learn photography. He plans to also try his hand at gaming - with a PS5. "In navigating life's chapters, I learnt that embracing challenge is key. Work diligently, continuously challenge the status quo for improvements but remember to play even harder. And never stop exploring." Read about what gives Raj his sense of purpose: https://lnkd.in/gJ9TxJbN This is part of a series of stories about the Singaporeans working in globally-leading businesses anchored in Singapore.

Singapore and the #US are marking their close and long-term economic relationship with the 20th anniversary of the US - Singapore Free Trade Agreement (FTA) this year. This milestone was commemorated at the US-ASEAN Business Council (USABC)’s 40th Anniversary Gala Dinner and The American Chamber of Commerce in Singapore (AmCham Singapore) Regional Economic Conference. USABC and AmCham have actively promoted closer #investment and #trade ties between the US and ASEAN member nations. In the 40 years that the USABC has been engaging the region, trade between the US and ASEAN has increased nearly seven-fold. Singapore’s bilateral relationship with the US has also strengthened, with Singapore’s trade with the US at almost three times what it was in 2004 when the FTA entered into force. Today, Singapore hosts nearly 6,000 US companies spanning sectors like semiconductors, IT, healthcare, carbon services, energy and chemicals, and a range of consumer businesses. Many of these companies use Singapore’s rich ecosystem and #talent pool to pursue #innovation and create new products and solutions for ASEAN businesses and consumers. At the AmCham conference, EDB’s Vice President and Head for Americas, Samuel Chan, spoke about how Singapore can partner US companies keen to seize opportunities in the region. Singapore has 27 FTAs that benefit companies and investors based here, while our four Digital Economy Agreements support businesses engaging in digital trade and e-commerce. We look forward to more collaborations with partners and companies from the US in Singapore and across Southeast Asia.

For game developer LIGHTSPEED STUDIOS which is behind PUBG MOBILE and Last Sentinel, establishing a base in Singapore has allowed it to drive R&D projects and business operations to better serve growing demand in Asia-Pacific. What’s been a game-changer for Lightspeed? Singapore’s robust #innovation ecosystem. The studio collaborates with local academic institution Singapore University of Technology and Design (SUTD) and government organisations like AI Singapore to harness cutting-edge #AI, VR, and cloud gaming tech in enhancing gaming experiences for millions worldwide. Lightspeed has also built up a multidisciplinary team of employees from Singapore’s talent pool and participated in the AI Apprenticeship Programme – an AI deep-skilling programme here. Read on to find out more on how LightSpeed and other global companies like Leica Microsystems and Univers are innovating from Singapore.

Singapore is a key player in the global #semiconductor industry – producing 10% of all chips manufactured worldwide and approximately 20% of global semiconductor manufacturing equipment. We have a diverse semiconductor ecosystem with globally-leading players from across the value chain – including GlobalFoundries, STMicroelectronics, Micron Technology, Infineon Technologies and Siltronic AG – and local enterprises such as Forefront AM and ELH Additive Manufacturing that can be solution providers or co-development partners. These companies are using advanced technologies like #AI and automation, and adopting #sustainability initiatives as they deepen their presence here. Here’s a look at how Singapore continues to develop its semiconductor industry, from investing in infrastructure and R&D to developing a highly-skilled workforce to drive innovation and industry growth.

Singapore Prime Minister Lawrence Wong delivered his first National Day Rally speech yesterday, outlining policy changes in four areas: the economy, families, housing and education. Businesses can continue to expect a facilitative environment that fosters innovation, minimises the regulatory burden on companies and supports them in managing costs. To stay competitive, Singapore will invest heavily in R&D, new infrastructure and technologies, and continue to support skills upgrading for the workforce. Read on to find out more.

Singapore’s AI ecosystem will get a boost with National University of Singapore's and IBM’s latest plans for a cutting-edge #AI #research and #innovation centre here in Singapore. This exciting development will feature the first full-stack AI infrastructure system installed on a university campus in Asia-Pacific by IBM. The centre will enable students to access IBM's advanced AI infrastructure and open-source models to accelerate AI research and drive innovation. It will also deepen collaboration between government agencies, academic institutions, and businesses to contribute to AI research with real-world applications. With this development, Singapore is one step closer to realising our National AI Strategy. It underscores our commitment to balancing AI innovation with safety while realising growth in key areas like Green AI. It's an exciting time for businesses and researchers alike, pushing the boundaries of innovation. Read more here: https://lnkd.in/gi7qNkBx

From RFID chips and AI-powered hearing aids to high-protein milk and premium skincare, global and local brands are innovating new products and solutions for the world from #Singapore. Among them are Dyson, Fraser and Neave Limited, KONE, Procter & Gamble, WSAudiology, Systems on Silicon Manufacturing Company Pte Ltd (SSMC), Magorium Pte. Ltd., Werable and Morning. They’ve been able to tap on: ⚪️ Strong government support for R&D and innovation – with S$28b committed to fund basic research, support innovation and grow enterprises between 2021 and 2025. ⚪️ A talent pool of over 50,000 researchers, technicians and supporting staff. ⚪️ A vibrant ecosystem of over 4,000 startups and over 220 incubators and accelerators. More businesses are using Singapore’s strategic location and R&D ecosystem to fuel their growth. Learn how Singapore is becoming a powerhouse for global #innovation, through products that are proudly made in Singapore.

Japanese specialty chemicals company Kuraray has broken ground on their new plant on Jurong Island! The Singapore plant will be Kuraray’s first Southeast Asian facility for producing its specialty resin product, Ethylene Vinyl Alcohol (EVOH), adding to its production capabilities in the US, Belgium, and Japan. The plant will expand Kuraray’s production of the resin product, which goes by the trade name EVAL™, to serve growing demand in the region and boost Kuraray’s position as one of the largest EVOH manufacturers in the world. Since setting up in Singapore 28 years ago, Kuraray is among the Japanese businesses that continue to deepen their presence here to serve Asia’s growing markets. As Jurong Island transforms into a sustainable energy and chemicals park, the new plant aims to meet the increased demand for sustainable packaging, where EVOH is widely used. Discover how Singapore is continuing to develop its energy and chemicals industry, which is home to over 100 global chemicals companies. Learn more: https://lnkd.in/gdHRWmY7