How Singapore factories can get smart and stay ahead

THE past year has been a spectacular one for Singapore's manufacturing sector, having recently capped its 13th recent consecutive month of growth. To maintain such strong growth, it is imperative Singapore manufacturers continue to watch regional trends carefully to ensure that they do not lose their competitive edge and fall behind.

Much of the recent growth experienced by Singapore's manufacturing industry has been attributed to the success of high-value manufacturing clusters such as electronics and precision engineering. However, other Asian neighbours have not been idling.

While China has made its name as a powerhouse for low-cost, low-value manufacturing, the country is moving toward high-value manufacturing. Similarly, other developed countries such as Japan and Korea have already established strong capabilities for the manufacture of complex and innovative products.