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 Singaporeâs 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 economyâs 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. Singaporeâs science and technology agency is providing research facilities and other incentives aimed local firms to take advantage of the new technologies itâs trying to promote.
The main area on EDBâs focus is research into computational engineering and health care industry. Engineering and design work at home is finding preference on agencyâs expansion plans. The city is hopeful of acquiring 2,500 data analytics professionals by the end of 2017, helping it to emerge as a high-tech e-commerce centre on the global map.
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