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Asian boom drives Singapore R&D in consumer goods

Retail sales volumes in Asia are tipped to rise by 3.3 per cent in 2020, outpacing the global average of 2.2 per cent

Annabeth Leow

Published Fri, Dec 27, 2019 · 09:50 PM

Singapore

SLAMMED by a slump in global electronics, the manufacturing sector has spent the year in the red - but the fast-moving consumer goods (FMCG) segment continues to show promise.

Yet, with food and beverage (F&B) and tobacco just 5.4 per cent of Singapore's weighted factory output, it is industry research and development (R&D), not FMCG output, that could drive crucial economic contributions.