Singapore Economic Development Board (EDB)

What goes into creating that compelling shampoo scent? It’s a blend of science and creativity, says Alexia Tong, a Perfumer at global nutrition, health and beauty company dsm-firmenich. While Alexia’s role is highly specialised, it’s one of the many jobs created by MNCs and global enterprises anchoring and expanding their manufacturing, services and R&D activities in Singapore’s innovation-focused economy.   Hear from Alexia and Manufacturing Technology Senior Engineer Jacklyn Toh of Pall Corporation about their roles in manufacturing and innovation; and EDB Managing Director Jacqueline Poh, who went on CNA’s Singapore Tonight with Syahida Othman to discuss the new investments #Singapore saw in 2024 and what that means for the economy and workforce: https://lnkd.in/gYTPW2uC Swipe to read about the Singaporeans advancing their careers in leading companies across #healthcare, #tech and sustainability:   💧 Jonita Chew, Research & Development Engineer at US water treatment company Gradiant   🏭 Hariz Mokhtar, Business Planning Manager at Dutch equipment contract manufacturer VDL ETG Singapore   ⚙️ Luke Wu, Managing Director at The GEAR, a unit by Japanese construction company Kajima     🎓 Siew Ting Leow, Business Analyst Team Lead at US software company AvePoint ⚕️ Marshall (Mao Sheng) Liu, Business Development & Customer Engagement Manager at Danish pharmaceutical company Novo Nordisk

In 2024, EDB secured high-quality investments and good jobs amidst a tough global environment. Investment commitments amounted to S$13.5b in Fixed Asset Investment and S$8.4b in Total Business Expenditure per annum. When realised over the next 5 years, these commitments are expected to create 18,700 jobs. Here are 5 quick takeaways: 1️⃣ Leading manufacturers continue to invest in Singapore, keeping us relevant in global value chains. 2️⃣ Companies are anchoring headquarters and professional services functions here, while expanding R&D and innovation activities. 3️⃣ Companies are keen to invest in new growth areas here, like precision medicine, #AI and the green economy. 4️⃣ Job creation remains robust, spanning high-value roles in Manufacturing, Services and R&D. 5️⃣ EDB will continue strengthening Singapore’s position as a hub for business, #innovation and talent, to seize new opportunities. Get the full picture: https://lnkd.in/ghrqzGAi P.S. Here’s a shoutout to our business and industry partners for their trust in and commitment to #Singapore - we look forward to continuing to work closely with you! #EDBYIR2024

#Singapore has much to offer businesses, and Maisarah Razak is among a team of EDB officers forging connections with global companies to bring investments and opportunities to Singapore. Based in Amsterdam as EDB’s Regional Director for the Benelux (Belgium, Netherlands, and Luxembourg) region at EDB, Maisarah has been actively showcasing Singapore’s strengths as a #businesshub to companies in Europe. “It’s an opportunity to highlight how our location and expertise offer valuable advantages for companies looking to expand to the fast-growing #APAC region,” she says. Read gov.sg’s feature on Maisarah. EDB will be announcing our 2024 investment commitments and outlook for 2025 tomorrow. Watch this space for the full details.

#Precisionmedicine is one of the most promising frontiers in healthcare and #Singapore’s #biomedical sciences ecosystem is helping to shape its future. Here are some quick facts: ✅ We have incubated over 300 life sciences startups that help accelerate innovation in crucial treatments. ✅ Healthcare giants like AstraZeneca, GSK and Illumina have invested in manufacturing facilities here, developing products to support disease diagnosis and targeted therapies that improve treatment outcomes. ✅ Leading companies such as Thermo Fisher Scientific have partnered with Singapore-based startup Mirxes and the National University Hospital to bring early cancer detection to the region. The global precision medicine market was valued at US$74b in 2022 and is projected to grow at an average rate of 11.5% per year. Read about the role Singapore plays as a global hub for precision medicine.

From pharmaceuticals to financial services and manufacturing, companies are deploying #AI in Singapore to deliver business value. Prudential Financial, Eli Lilly and Company and The Coca-Cola Company have seen improvements in productivity and processes from adopting AI. Startups and SMEs are also getting support to access AI – through programmes like Google Cloud’s AI Trailblazer Initiative and the Ignition AI Accelerator. With rising #digitalisation across #SoutheastAsia, international AI startups such as OpenAI and Databricks have also established regional hubs in Singapore to better serve customers in the region. Read our roundup of the latest AI developments in Singapore, and how companies can get the support they need to benefit from AI: https://lnkd.in/g_MBkafn 

From developing a COVID-19 diagnostic test kit in just two days to mass production and usage less than a month later? This is the story of how Dr. Masafumi Inoue and his team created the “Fortitude” COVID-19 test kit back in 2020. The senior principal scientist at A*STAR - Agency for Science, Technology and Research’s DxD Hub - Diagnostics Development Hub, who has spent close to three decades in Singapore, shares why he thinks global companies choose Singapore as their #innovation base – from our #collaborative ecosystem where government, academia, and industry work together, to our robust IP protection and #research initiatives. After all, it was through such a partnership between A*STAR and Singapore-headquartered biotechnology firm Mirxes that Dr. Inoue and his team were able to commercialise and scale the “Fortitude” test kit so quickly to serve pressing global healthcare needs. Read Dr Inoue’s story to learn how Singapore’s R&D ecosystem is designed to facilitate rapid innovation and test-bedding.

Happy Lunar New Year! EDB wishes you a healthy, joyful and prosperous Year of the Snake 🐍✨ Here’s a story from our colleagues at the Singapore Global Network (SGN) on how a Singaporean chef is keeping Lunar New Year traditions alive even though she’s far from home: https://lnkd.in/gUr9yXaN

What are 5 business trends emerging from Southeast Asia’s investment boom? Our latest article summarising the ASEAN Investment Report 2024 gives you an overview of the developments shaping Southeast Asia’s investment landscape. Here are some quick takeaways: ⚪ Businesses are investing in higher-value projects, from R&D and #innovation to advanced manufacturing. And the region is a profitable destination for FDI. ⚪ The pool of global companies and startups is growing. Over 80% of Global Fortune 500 companies have a presence in #SoutheastAsia, the report says, and there are over 60 unicorns here. ⚪ Renewable energy investments are growing, attracting an average of over US$27b in investments annually between 2020 and 2023. MNCs are continuing to grow their operations in Southeast Asia by using #Singapore as their gateway to the region. Get the full picture of Southeast Asia’s potential and how your business can seize new opportunities from here.

Singapore’s position as the most innovative city in Asia is powered by the efforts of talented local researchers and scientists who are pushing the boundaries of scientific research to create new, exciting solutions for the world. Meet four homegrown R&D talent who are helping MNCs in #Singapore drive #innovation in areas from myopia research to green chemical processes and semiconductor technology. Under EDB’s Industrial Postgraduate Programme (IPP), AMD’s Cheryl Selvanayagam, PhD and Dionaldo Zudhistira, EssilorLuxottica’s Yee Ling Wong and Wilmar International’s Glen Kua Kai Bin, Ph.D have been able to advance their careers while working on R&D projects that are scoped and supervised by globally leading companies and approved universities. Learn more about how the IPP has built a strong pipeline of local #talent for R&D roles: https://lnkd.in/gAnKzewY 

#Singapore will play a big role in the next-gen #automotive technologies powering Volvo Cars! One of the world’s best-known car brands, Volvo, has launched its new Singapore Tech Hub focused on R&D and building capabilities in robotics, electronics engineering, and AI. The Singapore Tech Hub will drive deep tech and advanced engineering development for the company, drawing on Singapore’s #robotics talent pool and ready partners among Singapore enterprises and startups. To mark the opening of the tech hub in Kallang, which is headed by Dr. Yvonne Tan, Volvo launched a hackathon for Singapore’s tertiary students. Over two weeks, 30 talented youngsters designed autonomous vehicles capable of self-driving and recognising urban obstructions. With technical support from Volvo’s experts, they applied advanced technologies to solve real-world urban mobility challenges. While Singapore doesn’t have traditional car assembly plants due to space constraints, the technology and engineering behind EVs and autonomous vehicles remain an area of focus, given the synergies with our advanced manufacturing and R&D capabilities. For businesses looking to #accelerate innovation with robotics and AI, Singapore offers a robust ecosystem of research institutions, partners, and skilled talent. Learn more: https://lnkd.in/g-2znY3x