The perfect timing is coming for 'Made in Singapore'

During the last 20 to 30 years, one of the key strategies of developed countries has been to outsource manufacturing to benefit from cost advantages in emerging markets.

Thus, most multinational corporations (MNCs) shop around in order to find the cheapest location to produce their goods. Cost savings traditionally come from dramatically lower labour costs more than any other factor.

For example, Apple, the superstar of global innovation, locates its production and manufacturing in China (yet still reaps most of its profits in the US). Designed in California, sure, but made in China.

But a shift is starting as advanced robotics, artificial intelligence (AI) and automation technologies mature. Singapore's Ministry of Trade and Industry has unveiled an Industry Transformation Map (ITM) for the electronics manufacturing sector to gear it up for the future, by leveraging these new technologies. It is i…