Singapore Looks Forward to Build Expertise in Disruptive Technologies

The EDB (Economic Development Board) of Singapore has recently decided to build bases for tech industries dealing with design and manufacturing part of product development process. The board members are confident of Singapore’s continued growth in Asia while looking forward to setup local and MNCs having expertise in the related field of Business Analytics. This step is going to cut the economy’s reliance on labour-intensive industry and help them find their way to neighbouring countries. Low cost foreign workers that the citizens are unhappy with, mostly work under the much touted manufacturing sector.

To pull in more companies for cutting-edge production, the government has offered low tax rates and research ties between local universities and corporate giants. A few of them are Rolls-Royce, Procter & Gamble etc. Singapore’s science and technology agency is providing research facilities and other incentives aimed local firms to take advantage of the new technologies it’s trying to promote.