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JTC, SBF launch initiative to help firms embark on Industry 4.0 transformation
JTC and the Singapore Business Federation (SBF) will work together to support manufacturers - particularly small and medium-sized enterprises (SMEs) - in their Industry 4.0 journeys, under the new JTC-SBF Industry Transformation Initiative.
The aim is to support more than 300 companies in the next two years, through workshops, capability-building initiatives tailored for each firm's digital readiness, and link-ups with technology partners.
Both organisations signed a memorandum of understanding for this initiative at the Industry 4.0 trade fair Industrial Transformation Asia-Pacific on Wednesday.
Manufacturing is a key pillar of Singapore's economy, contributing over 22 per cent of nominal gross domestic product in the first half of 2020, said Minister for Trade and Industry Chan Chun Sing at the signing. And Industry 4.0 technologies are key for Singapore's manufacturing sector to remain globally competitive and continue creating quality jobs, he added.
With this collaboration, JTC and SBF's combined network of companies will gain easier access to Industry 4.0 resources across both organisations' networks and platforms.
JTC has over 14,000 industrial tenants. To date, more than 1,000 businesses in JTC's estates have been engaged on the topic of Industry 4.0, with around 200 companies embarking on transformation.