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Singapore's Economic Development

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by

Sharon Ho

on 8 October 2014

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Transcript of Singapore's Economic Development

The Economy Development of Singapore from Manufacturing/High-tech to Knowledge-Based Global Economy.
Roles of EE industry contribute to SG economy
The gross domestic product (GDP) measures of national income and output for a given country's economy. It is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time.

2
The importance and contribution of the EE industry in the economic development
of Singapore since independence
Semiconductor
Data Storage
Printing & Imaging
Singapore is the leading location for development and manufacture of injet printers
Companies also undertake printer-related R&D in Singapore include Kodak, Toshiba TEC and HP
Electronic Systems
Sony and Energizer manufacture advanced lithium batteries
Such as Energizer, GP Batteries set up global HQ in Singapore
R&D in battery management systems for automotive applications were conducted by Delphi and ST Kinetics
14 silicon wafer fabrication plants including the world's top 3 wafer foundries
Wafer fabs created good-paying and highly knowledge-intensive manufacturing jobs, as well as innovation-intensive R&D jobs.
Wafer fabs created many spin-offs for the Singapore economy as they require suppliers of gases, chemicals and materials to be in close proximity.
Timeline
1960s to 1970s
Labor and skill-intensive
Semiconductor assembly and consumer electronics manufacturing
Begun as the only TV assembly plant in SEA in 1960s
1980s to 1990s
Highly-capital and technology-intensive
12-inch wafer fabs, hard disk media facilities
System integration of complex electronic equipment such as network storage systems and servers
4 Key Industry Segments
in EE Industry
1990s to Present
Knowledge-driven
EE Industry accounted for a third of manufacturing sector value-add and
Electronic companies moved along the value chain to conduct R&D
Pro-Business Environment in terms of intellectual property, integrity, productivity and reliability
Largest R&D contributor by 2011 in the manufacturing industry
Backbone of Singapore's Economy
In 2012, EE Industry contributes 5.2% to the country's GDP
Of S$16 billion in fixed asset investments, electronics accounted for almost 38.8% of the total investments in 2012
Employment close to 80,000 which is 19% of total manufacturing jobs
Enjoys spectacular performance in investments, reinvestments and profits when the global market booms
dot-com boom in 1990s
One of the worst affected industry when the world goes into a consumer withdrawal contraction, great recession of 2008-9
Upon the world economic recovery in 2010, Singapore's manufacturing sector recovery through semiconductor output increases the magnitude of close to 50% - led by EE industry
Contribution
Today S'pore is home to...
Highly capital and knowledge intensive
Require many process development engineers
Fits well into Singapore's cost structure and increasing focus on knowledge and innovation intensive activities
15 of the world's top 25 fabless semiconductor companies and close to 40 integrated circuit design centers
11 of the world's top 20 integrated device manufacturers
Four of the world's top five Electronics Manufacturing Services (EMS) providers
The world's top 3 hard disk drive manufacturers
Q
The EE Industry had always been an important sector in Singapore's economic success.
As Singapore shifted towards a
Knowledge-Based Global Economy
, will there also be a shift in the roles and contributions of the EE Industry & Engineers?
EE Industry
KBE
Chen Shao Jun
Susan Goh Su Min
Sharon Ho Ah Yong
P6
1
1960s
1970s
1980s
1990s - Present
1960s: Economic Uncertainty
1970s: Skill-Intensive Industry
1980s: Knowledge – Based Industry
1990s – Present: Globalisation & Investment
Focus on labour intensive industry
Unemployment rate was high
EDB(1961)
Aided in the establishment of labour-intensive industry
Attract foreign investors
Upon gaining independence in 1965
Lost of source of raw materials
Shift towards skill intensive industry
With the help of JTC (1968) to house the factories and industries setup by the MNCs

Focus on attracting MNCs
Basic infrastructure
Skilled labour
Manufacture sophisticated electronic products (silicon wafers, computer parts)
Became the largest sector to contribute to the economy in SG, surpassing trade.

Q&A
Neighbouring countries open up to the MNCs
labour cost in Singapore appear higher as there was shortage of labour
In order to remain competitive
1st Focus:
specialized manpower
Through education and training
R&D , engineering design etc
2nd Focus:
business environment
R&D Manufacture Market

4
The roles that EE Engineers can play and contribute to this Economy, especially in R&D
Strengthening Talent Pool
Ensure large variation of education system
Emphasize on learning over results
EDB &SPRING - Develop deep-skilled master craftsmen to meet the needs of manufacturing in the future
Master Craftsmen able to mentor and impart their technical skills
Shift in Roles
From manufacturing based towards capital and knowledge based
EE Industry in Singapore will continue to evolve
Government recognize that S'pore cannot compete in low-cost assembly operations
Working to reinforce its attractiveness as a center for
high-end manufacturing
and
R&D
Research & Development
In 2011, electronics accounted for 65 of Singapore's manufacturing R&D expenditure
Comprehensive set of capability development schemes to produce more talent in EE Industry
NTU VIRTUS, IC Design center
EDB co-funding scholarships for postgraduate electronics studies
Government raised the R&D budget for 2011 to 2015 by 20% with the aim of making Singapore the most research-intensive countries in the world
EE Engineer required to take up role in R&D
Develop next generation components and products
Making better and more efficient system
Ensuring EE Industry to stay competitive globally and improve sustainability of Singapore economy
NTU EEE Undergraduate doing Research
Innovation & Creativity
Change of approach
No longer rigid, resist to change
Constantly think out of the box
Open to new ideas
To remain on edge
SG continue to expand its external trading ties by globalizing
EDB Investment (EDBI) to invest on companies that has commercial potential

Knowledge-Based
Economy
The production and services based on knowledge-intensive activities that contribute to an accelerated pace of technical and
scientific advances
Became the lead sector of SG’s economy contributed to 12.7% of GDP

Full employment reached, EE industry contributed 8.7% of GDP

GDP contribution hover around 8.6%

Today, EE is still the key contributor of SG’s economy 5.4% of GDP

Strive towards being the world most research intensive industry
Allow SG to be the 'hub' for developing next generation electronic components and products

Advantages
Business hub for
foreign companies
Workers are highly valued
for their knowledge
Stability in economic and
higher living standards

The advantages and challenges EE Industry
faces in the current Knowledge-Based Global
Economy
Challenges
Insufficient Manpower
eg: EE graduates not wanting to work in EE industry
Over-reliance on Foreign countries for natural resources and talents
Overall wages in Singapore rise
in the
3
High education
Upgrading skills i.e. WDA
Attract foreign companies to invest and manufac in high-end products
Aerospace Industry
Rolls Royce, Pratt & Whitney
Encourages companies to improve existing technology i.e. Energy efficient appliances, clean energy technology
Thank you!
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