Economic Development Board (EDB)

Micron's latest expansion to boost Singapore's semiconductor hub status

SINGAPORE (Aug 14): Singapore wants to strengthen the whole semiconductor manufacturing eco-system to maintain its role as a regional hub.

Minister for Finance Heng Swee Keat, who was speaking as guest of honour at the opening of US semiconductor company Micron Technology’s expanded 3D NAND flash memory fabrication operations facility, affirmed this.

The new facility is located next to Micron’s existing manufacturing complex at North Coast Drive.

Services sector braces for less optimistic outlook in 2H19

SINGAPORE (July 31): Companies in the services sector are slightly less optimistic about business conditions in the second half of 2019, according to data released on Wednesday by the Singapore Department of Statistics.

The dampened spirits are led by firms in the retail trade industry, which foresee a less favourable business situation in the next six months.

At the same time, wholesalers as well as banks and finance companies also expect the ongoing trade conflict between US and China to have a negative impact on their businesses.

Singapore to pilot new programme to help high-potential tech firms bring in talent

SINGAPORE (July 30): Technology companies in growth areas identified by the government will soon find it easier to bring their talents into Singapore, should they choose to set up new teams here.

The Economic Development Board (EDB) and Enterprise Singapore on Tuesday announced plans to pilot Tech @ SG, a targeted programme to help tech companies grow in Singapore and expand in the region.

Some of the growth areas the agencies have their eye on include digital, medtech, biotech, cleantech, agritech and fintech.

Bearing brunt of trade war, Singapore chipmakers cut jobs

SINGAPORE (July 24): Caught between a Sino-US trade war, political concerns over Chinese telecoms firm Huawei and slowing consumer demand, chipmakers in Singapore have started slowing production and laying off hundreds of jobs, firms told Reuters.

The slump in a sector that made up nearly a third of Singapore’s manufacturing output last year is reinforcing expectations that the export-driven economy could slide into recession in the coming months.

Singapore in talks with more electric car companies after Dyson

SINGAPORE (Apr 22): Following Dyson’s plans late last year to manufacture its first electric car in Singapore, the city-state is now in talks with other makers of green vehicles to set up shop on the island.

Singapore is pitching its connectivity to global markets through free-trade agreements, its high-skilled workforce and stringent protection of intellectual property, which is critical for the industry, according to the government agency set up to attract investments to the country.

ST Engineering teams up with EDB to develop new engines of growth

SINGAPORE (Nov 29): ST Engineering and the Singapore Economic Development Board (EDB) are teaming up to build new engines of growth by creating globally competitive industry ecosystems in Singapore.

On Thursday, ST Engineering and EDB signed a Memorandum of Understanding (MOU) for a strategic growth partnership.

The two will work closely to identify and develop growth strategies for targeted industries, such as robotics, smart mobility and health tech, which could be globally competitive business areas for Singapore and ST Engineering.

NEC Corp launches Open Innovation Centre

SINGAPORE (Sept 25): Japan-listed NEC Corporation today announced the opening of the NEC Open Innovation Centre (OIC) in Singapore.

This forms a part of the wider NEC Innovation ecosystem and reaffirms the company’s commitment to foster open innovation and partnerships with private and public sectors.

Located in Biopolis, the OIC is supported by the Singapore Economic Development Board (EDB) and is part of NEC’s $100 million investment over the five years from 2017 in research and innovation in the Asia Pacific region.

Alibaba launches talent programme in Singapore with support from NTU, EDB

SINGAPORE (Sept 3): Alibaba Group on Monday launched the Alibaba Talent Programme in Singapore with support from Nanyang Technological University (NTU Singapore) and the Economic Development Board (EDB) under the Industrial Postgraduate Programme (IPP).

This talent programme is part of Alibaba’s mission to nurture future research and development (R&) talent in Singapore, especially in the field of computer science. It aims to equip postgraduate students with critical R&D skill-sets through gaining practical work experience on projects with Alibaba.

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Singapore partners Japan to mutually grow start-ups & businesses and expand GIA network

SINGAPORE (Aug 29): Singapore statutory boards Economic Development Board (EDB) and Enterprise Singapore have signed a memorandum of understanding (MoU) with the Japan External Trade Organisation (JETRO) to collaborate on and support the growth of enterprises and start-ups based in Japan and Singapore.

Under the MoU, all three parties will facilitate access and opportunities through creating initiatives, events and information exchanges for these start-ups and businesses, in the process strengthening linkages between the innovation ecosystem between Singapore and Japan.

Local manufacturing firms increasingly optimistic amid ongoing trade war: EDB survey

SINGAPORE (July 31): Positive business sentiment is on the uptrend among Singapore's manufacturers even with the ongoing US-China trade war, according to the Economic Development Board’s (EDB) Survey of Business Expectations of the Manufacturing Sector for 3Q18.

Compared to the EDB’s findings over 2Q, a net weighted balance of 5% of Singapore’s manufacturers are expecting output to increase in 3Q, with all clusters – save for chemicals – projecting higher output levels within the next three months.

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