These partnerships are a "critical enabler" of the Republic's manufacturing ambitions, noted DPM Heng in a speech on Oct 14.
"Such partnerships allow us to develop our respective strengths and support one another in navigating some of the difficult adjustments that come with transformation," he said at the opening ceremony of the Industrial Transformation Asia-Pacific (Itap) 2024 event.
This comes as Singapore remains on track to achieve its goals of increasing manufacturing value-added by 50 per cent between 2020 and 2030, and positioning itself as a critical global node for advanced manufacturing.
At the event at the Singapore Expo, themed "Shaping a Sustainable Future with AI-Powered Manufacturing", DPM Heng said that the manufacturing sector globally accounts for around one fifth of global carbon emissions, so it is critical that the sector contributes and uses new green and sustainable solutions to boost global efforts to combat climate change.
Another key trend will be the transformative impact of AI on the sector, which accounts for around 20 per cent of Singapore's gross domestic product.
In his speech, DPM Heng announced several initiatives and outlined ways local and overseas organisations can collaborate with the local manufacturing ecosystem.
This story is from the October 15, 2024 edition of The Straits Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October 15, 2024 edition of The Straits Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Team Singapore athletes at Paris Games honoured in Parliament
Olympians and Paralympians 'fought hard in the toughest of arenas', says minister
NTUC central committee unaware of capital reduction plan: Desmond Tan
The labour movement's central committee did not know of the plan to return $1.85 billion to shareholders under the Allianz-Income deal before it was mentioned in Parliament on Oct 14, said NTUC deputy secretary-general Desmond Tan.
MPs raise concerns over info sharing, investor confidence
16 MPs speak for four hours on Bill to halt Allianz's planned offer for Income Insurance
New in Oct BTO launch: 'White flats', additional subsidies
The Oct 16 Build-To-Order (BTO) launch will feature several changes that will affect home buyers, including a new way of classifying flats, more options for singles and new open-concept \"white flats\".
Talent, tourists, new hubs: John Lee lays out ambitious HK revival plan
Given the myriad priority areas, analysts wonder if his economic measures lack focus
Prime, Plus flats launched with 6% to 9% subsidy clawback clause
They are among 8,573 homes offered for sale under new flat classification system
Parliament passes Bill enabling Govt to block Allianz-Income deal
The minister in charge of Singapore's financial regulator will have powers to block deals involving insurers that are run or substantially owned by cooperatives after Parliament passed new laws on Oct 16.
K-pop boy band Riize's Seunghan leaves two days after return
SEOUL - Just two days after announcing that he was rejoining K-pop boy band Riize, South Korean singer Seunghan (right) said on Oct 14 that he is leaving the group.
Stefanie Sun's concert tour kicks off in 2025
The decade-long wait for fans of Stefanie Sun will be over soon.
Theatre actor Shahid Nasheer hailed as bright talent of his generation
Theatre actor Shahid Nasheer died on the evening of Oct 14 at Gleneagles Hospital, following complications while being treated for leukaemia. He was 28.
