The Future of Manufacturing

The Business Times, Monday, 26th Nov 2012

How should Singapore’s manufacturing sector evolve to remain a pillar of the economy, and what industries do you see playing a key role? How will an evolving manufacturing sector affect your area of business, and Singapore generally?

IT is no secret that Singapore’s manufacturing sector has lost some of its competitiveness to other Asian nations that have experienced an economic growth spurt in recent years, due to the lower cost of production in those countries. Where manufacturing was once a key driver in Singapore’s economy, there is a need to reinvent the sector in order to maintain its position as a key economic engine for growth.

First and foremost, the traditional notion of manufacturing has to evolve. It must shift from being labour-intensive and having low productivity to become an industry that develops high value-add products that are underpinned by R&D and high tech innovations. To achieve this, manufacturing companies would require higher skilled workers and this may translate into a greater need for the use of our recruitment services to find these talent.

Ronald Lee
Managing Director
PrimeStaff Management Services Pte Ltd

 

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