How Singapore can lead biopharma innovation

SINGAPORE is known by the global innovation and intellectual property (IP) expert community as a leader in the protection of IP rights. The latest International Property Rights Index for 2019 again listed Singapore as having Asia's strongest protection of intellectual property (IP) rights; globally, it ranks fourth.

Multinationals and homegrown companies alike can rest assured that their inventions are safe from theft in Singapore. The city-state is also an advocate for more robust IP protections in Asean, where short-term gains can sometimes be prioritised over a country's long-term credibility and development.

This leadership position is hard-earned, and a result of Singapore's commitment to fostering innovation and a knowledge-based economy. The country's policymakers, in their consistent efforts to keep Singapore's economy at a leading edge globally, are cognisant of the imperative to sustain efforts to leverage IP as a key driver of economic growth.