<TABLE cellSpacing=0 cellPadding=0 width=452 border=0><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published April 14, 2009
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>EDB: Target of $10-12b of investments will be met
By 2010, Singapore's economic strategy focus will be on innovative activities
By TEH SHI NING
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THE Economic Development Board still expects to meet its target of bringing in $10-12 billion of fixed asset investment commitments this year, though keeping these figures up in 2010 will be challenging.
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</TD></TR><TR class=caption><TD>Dr Beh: It's a challenging environment for capital-intensive investments </TD></TR></TBODY></TABLE>But by 2010, Singapore's economic strategy will be to focus on innovation-intensive activities, EDB's managing director Beh Swan Gin said yesterday. He was delivering the keynote address at the annual general meeting of the American Chamber of Commerce in Singapore (AmCham).
Speaking to reporters, Dr Beh said: 'It's still too early to give a sense of what it'll be (in 2010), but clearly it's a challenging environment for capital-intensive investments.'
There has been interest from companies in China and India looking to go global, which see Singapore as a base to which European and American talent might more willingly relocate, he said. 'The interest level (to invest) is there, but companies are cautious as to when they'll make the decision because it's all driven by demand.'
Traditional sources of investment in Europe and America should continue to see Singapore's relevance as they seek to tap the Asian growth story and opportunities for business offered by the trends of growing middle class affluence, urbanisation and ageing, Dr Beh said.
Earlier, he spoke to AmCham members about how EDB intends to sharpen its strategy.
'We're extending our value proposition - from making Singapore an efficient hub to an essential hub; from managing the bottom line to growing the top line; from adding value to actually creating new value,' he said.
=> How? NS for Sporns, Jobs for FTrash? From #1 work force to one that's worse than that in Timbutku?
Looking at longer-term economic strategy, Singapore's GDP growth has moved from being driven by capital in the 1980s to technology in the 1990s to knowledge-intensive activities now, Dr Beh said.
Taking Singapore on to its 'second S-curve' involves a focus on innovation-intensive economic activities by 2010 and beyond.
=> How? By making it 1-man assembly illeegal? And banning pics to be taken when the poodles are harassing CSJ and co.?
This means 'using Singapore's needs as an impetus to create tomorrow's solutions today', he said, citing the success already achieved with water technology.
EDB can work with industry players to conceptualise and develop urban solutions, such as in the areas of transport, communications and IT, security, energy and environment, and assist in exporting them to meet global demand. Innovation can also be applied to health and wellness, in developing high-tech solutions for use in hospitals of the future or for home-care.
Improved lifestyle products and services can help grow the lifestyle business's contribution to GDP, making Singapore a more attractive city to live in and helping it attract talent, Dr Beh said. 'Talent is no longer just an input factor. It is a driving force for innovation,' he said.
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=> How? Underpay Pink ICers while overpaying FTrash?
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>EDB: Target of $10-12b of investments will be met
By 2010, Singapore's economic strategy focus will be on innovative activities
By TEH SHI NING
<TABLE class=storyLinks cellSpacing=4 cellPadding=1 width=136 align=right border=0><TBODY><TR class=font10><TD align=right width=20>
</TD><TD>Email this article</TD></TR><TR class=font10><TD align=right width=20>
</TD><TD>Print article </TD></TR><TR class=font10><TD align=right width=20>
</TD><TD>Feedback</TD></TR></TBODY></TABLE>THE Economic Development Board still expects to meet its target of bringing in $10-12 billion of fixed asset investment commitments this year, though keeping these figures up in 2010 will be challenging.
<TABLE class=picBoxL cellSpacing=2 width=100 align=left><TBODY><TR><TD>
</TD></TR><TR class=caption><TD>Dr Beh: It's a challenging environment for capital-intensive investments </TD></TR></TBODY></TABLE>But by 2010, Singapore's economic strategy will be to focus on innovation-intensive activities, EDB's managing director Beh Swan Gin said yesterday. He was delivering the keynote address at the annual general meeting of the American Chamber of Commerce in Singapore (AmCham).Speaking to reporters, Dr Beh said: 'It's still too early to give a sense of what it'll be (in 2010), but clearly it's a challenging environment for capital-intensive investments.'
There has been interest from companies in China and India looking to go global, which see Singapore as a base to which European and American talent might more willingly relocate, he said. 'The interest level (to invest) is there, but companies are cautious as to when they'll make the decision because it's all driven by demand.'
Traditional sources of investment in Europe and America should continue to see Singapore's relevance as they seek to tap the Asian growth story and opportunities for business offered by the trends of growing middle class affluence, urbanisation and ageing, Dr Beh said.
Earlier, he spoke to AmCham members about how EDB intends to sharpen its strategy.
'We're extending our value proposition - from making Singapore an efficient hub to an essential hub; from managing the bottom line to growing the top line; from adding value to actually creating new value,' he said.
=> How? NS for Sporns, Jobs for FTrash? From #1 work force to one that's worse than that in Timbutku?
Looking at longer-term economic strategy, Singapore's GDP growth has moved from being driven by capital in the 1980s to technology in the 1990s to knowledge-intensive activities now, Dr Beh said.
Taking Singapore on to its 'second S-curve' involves a focus on innovation-intensive economic activities by 2010 and beyond.
=> How? By making it 1-man assembly illeegal? And banning pics to be taken when the poodles are harassing CSJ and co.?
This means 'using Singapore's needs as an impetus to create tomorrow's solutions today', he said, citing the success already achieved with water technology.
EDB can work with industry players to conceptualise and develop urban solutions, such as in the areas of transport, communications and IT, security, energy and environment, and assist in exporting them to meet global demand. Innovation can also be applied to health and wellness, in developing high-tech solutions for use in hospitals of the future or for home-care.
Improved lifestyle products and services can help grow the lifestyle business's contribution to GDP, making Singapore a more attractive city to live in and helping it attract talent, Dr Beh said. 'Talent is no longer just an input factor. It is a driving force for innovation,' he said.
</TD></TR></TBODY></TABLE>
=> How? Underpay Pink ICers while overpaying FTrash?
