Singapore’s investment into research and development (R&D) has helped the country turn challenges into economic opportunities.
Citing examples in the biomedical sciences and clean water sectors, Singapore President Tony Tan Keng Yam said these industries have given a tremendous boost to the economy.
Dr Tan was speaking to the Singapore media at the end of his official visit to Germany.
Today, the output from plants in the biomedical sector accounts for about one-fifth of Singapore’s manufacturing economy.
And President Tan said it is a result of an initiative to grow the biomedical sciences industry 12 years ago.
Dr Tan said that since then, nearly all the top global pharmaceutical companies have set up in Singapore.
He said: “Certainly, we have made the economy more resilient because electronics, which has been our mainstay for so many years, also has its cycles. We will face increasing competition, China is putting a lot of resources into these areas. But having a head start of 12 years has stood us in very good stead.”
Another area where investment into R&D has paid off is in the clean water sector.
Dr Tan said the image of the water industry has changed completely and there are now conferences that profile Singapore as a hub for water research.
He said: “What we have done to address a necessity, because of the work that has been done, now has become an economic opportunity as our companies now are going all over the world to establish water reclamation and desalination plants using reverse osmosis, membrane technology in China and the Middle East.
“So in a sense, as they say necessity is a mother of invention, you must be able to organise yourself so you can turn what was a handicap to an advantage.”
Dr Tan said the National Research Foundation and other national agencies will continue to identify emerging technologies in areas such as clean energy and environmental sustainability to support Singapore’s economic growth.
To ensure that there is sustainability in the R&D ecosystem in Singapore, Dr Tan said it is important for the country to grow its own talent, and more can be done to encourage student interest in science and technology.
For example, Dr Tan shared that Singapore is planning to hold the “Sketches of Science” exhibition in the third quarter of next year.
It showcases drawings by Nobel laureates on how they came up with their discoveries.
If the plans pan out, Singapore will be the first country in Asia to host the exhibition.
And it is hoped that such events and the upcoming Global Young Scientists Summit in Singapore will inspire younger Singaporeans to venture into R&D.
