18 December 2016
Is there a future for manufacturing in Singapore?
This is one of the big questions facing the country as it looks for ways to grow the economy, which has been struggling for some years now.
Some answers might be forthcoming from the Future Economy Committee, which is due to present its report soon.
It is likely to recommend that manufacturing continues to play an important role.
You just have to look at the job numbers to know why: The livelihood of 500,000 workers is at stake in this sector, about half of whom are Singaporeans and permanent residents. There are also jobs in finance, insurance, transport and logistics that support manufacturing companies which might disappear if this place wasn’t a vibrant manufacturing base.
But there’s no running away from the reality that manufacturing is shrinking in Singapore, as it is in many parts of the developed West.
…The writer is also a Senior Fellow at the S. Rajaratnam School of International Studies.
RSIS / Online / Print
Last updated on 19/12/2016