Smart innovation, simple data key to S'pore's manufacturing growth

WITH Singapore's indicators of industrial output in positive territory for several months now, analysts are forecasting a manufacturing recovery. Fuelled by growth in orders, exports, factory output and employment, the latest report from the Singapore Institute of Purchasing & Materials Management highlights positive gains made by the sector, which is now well-placed to overcome the global uncertainty that has challenged other segments of the economy.

Central to this expansion has been the Singapore government's focus on the development of advanced manufacturing, which was given a further boost by Budget measures announced in February - most notably the S$80 billion investment to promote digitisation for small and medium enterprises, as well as a commitment to support the recommendations of the Committee on the Future Economy. This follows on the back of the S$19 billion investment committed by Prime Minister Lee Hsien Loong last year as part of the Research, Innovation and Enterprise 2020 Plan.

This has led many large multinational corporations to choose Singapore as their research and development, and advanced manufacturing hubs over other countries in Asia. However, Singapore has proved itself to go beyond simple investment commitments. The government's ability to go beyond "talk" is seen through initiatives such as Smart Nation and Smart Mobility 2030, that have ingrained the Internet of Things (IoT) and Industry 4.0 in the central direction of the nation.