Singapore to benefit from rise in long-term demand for chips: DPM Heng

Singapore

DESPITE official forecasters' expectations of a full-year manufacturing decline here, Deputy Prime Minister Heng Swee Keat affirmed on Wednesday that the ailing semiconductor industry - which makes up about 7 per cent of the economy - will stay key to the Singapore factory landscape.

"More broadly, the global demand for semiconductors in the longer term remains strong," he added, citing consumer electronics growth and development of new technologies, which are expected to drive the industry.