Singapore Economic Development Board (EDB)

British-Swedish biopharmaceutical giant AstraZeneca is making its first #manufacturing investment in Singapore, by building its first end-to-end antibody drug conjugates (ADCs) manufacturing plant here. This US$1.5b greenfield facility, when ready in 2029, will contribute significantly to AstraZeneca’s global supply of its ADC portfolio. ADCs are innovative precision therapies that target cancer cells more precisely. The manufacturing of ADCs is a complex, multi-step process, and AstraZeneca’s upcoming plant will draw on Singapore’s reputation for excellence in complex manufacturing. Singapore’s vibrant #biomedical sciences industry is home to seven of the world’s top 10 biopharmaceutical companies, which have best-in-class manufacturing facilities here, and more than 400 global and local MedTech companies. With precision medicine showing strong growth potential, more companies are developing and commercialising innovative products and solutions for precision therapies. AstraZeneca’s upcoming ADC manufacturing facility, which will be designed to emit zero carbon from its inception, will add substantial capabilities to Singapore’s biopharmaceutical ecosystem, while creating high-quality, meaningful jobs and economic opportunities for Singapore. Read about why AstraZeneca has chosen to produce its next-gen #oncology medicines for patients worldwide, from Singapore: https://lnkd.in/gNKupgw9

Did you know that close to half of the scale-ups in the prestigious FrenchTech120 list have an office in Singapore? With 60 years of diplomatic relations, #France and #Singapore continue to deepen trade and business ties and collaboration. In honour of the France-Singapore Joint Year of Sustainability (JYOS), a year-long initiative that highlights bilaterial cooperation in #sustainable development and the green transition, the 2024 edition of the French Tech Soiree: Technologies for a Sustainable Future was held on 15 May in Paris. Organised by the Singapore Economic Development Board and Singapore Embassy in Paris, the event kicked off with Ambassador Teow Lee Foo, EDB’s Executive Vice President, Ih-Ming C., and Nicolas Meier, Managing Director atTemasek, welcoming over 50 leading French technology scale-ups, partners and investors. The diverse pool of participants came together to discuss how their solutions could unlock value in Southeast Asia’s growing digital economy and contribute to the green agendas of France, Singapore and the wider region. Find out what makes Singapore the ideal location in APAC for leading technology scale-ups: https://lnkd.in/gcsSBn5X

#Singapore offers businesses – both large and small – support for innovation so that they can #crowdsource ideas, share knowledge and challenges, and work with external partners to create market-ready solutions. Learn about how the Corporate Venture Launchpad Programme, Global Innovation Alliance, Open Innovation Network and Open Innovation Platform have made a difference to companies in Singapore. Gain insights into how Terrascope, STACS, Aimazing, and NinjaOS were able to address challenges through innovation, helping them surface new products and solutions, and secure new customers as part of their Asia growth strategy. For the full story, click here:

Singapore's new Prime Minister was sworn in tonight! Mr Lawrence Wong is Singapore's fourth PM since independence, taking the reins from Mr Lee Hsien Loong. Mr Lee will remain in Cabinet as Senior Minister. In his first speech as PM, Mr Wong paid tribute to his predecessors and reaffirmed his team's priorities in taking Singapore forward and making "tomorrow better than today". He said Singapore would strengthen its partnerships to advance its interests, and shape better outcomes for both Singapore and the world. Singapore values the centrality of ASEAN and will also continue engaging both the United States and China. Read more:

With #APAC set to account for 60% of the world's GDP growth in 2024, companies must innovate to capture opportunities in the region. Boston Consulting Group (BCG)'s latest report on corporate #innovation features insights from 400 senior leaders, shedding light on the strategies, challenges, and paths ahead for business-building in a growing region. Businesses seeking to grow in the region can count on Singapore's stability, robust innovation ecosystem, connectivity, and talent pool. EDB's Corporate Venture Launchpad programme also supports established corporates, family businesses and high-growth companies with Singapore-based operations to build new ventures quickly and stay ahead of disruption. Download the report for insights into developing resilient business-building strategies in APAC: https://lnkd.in/gHJ5nGXW BCG X

Travel retail has made a comeback in Asia with the return in business and leisure travel. Consumer behaviour is changing as travellers become savvier and seek out more personalised and differentiated experiences. Read EDB’s take on the trends shaping travel retail and the opportunities it presents consumer companies - ahead of business and thought leaders from the world of travel retail convening for the annual TFWA (Tax Free World Association) Asia-Pacific Exhibition and Conference in Singapore on May 13. Trend 1: APAC will continue to drive travel retail growth – accounting for 40% of global market share (which is tipped to hit US$145.46b by 2030). Trend 2: Consumer companies are innovating as they grow their APAC travel retail presence. These efforts range from product and sales strategies to corporate #innovation. Trend 3: Singapore remains competitive as a travel retail hub for consumer brands – due to our proximity to end markets, access to #talent and stability. Click for more on how consumer brands can capitalise on #travel #retail trends for success in Asia!

The ongoing #genAI boom is driving demand for #semiconductors – and chipmakers in Singapore are poised to ride the growth wave. Singapore has a critical mass of leading semiconductor companies here and they operate across the value chain. They include Qualcomm and Micron Technology – with Qualcomm looking to increase the capabilities of its testing centre here and Micron taking the view that genAI’s impact will spur additional investments in manufacturing and headcount. Separately, Singapore’s Singtel is launching its GPU-as-a-Service in 3Q2024, powered by NVIDIA’s H100 clusters in existing upgraded data centres in Singapore. This will support companies looking to boost productivity and accelerate growth and innovation. Singapore is continuing to develop our semiconductor ecosystem and talent pool to support the industry’s growth. Output by companies here currently makes up more than 10% of the global semiconductor market and 20% of semiconductor equipment in the world. Read the full article here.

Rolls-Royce Solutions Asia marks 50 years in Singapore!   Rolls-Royce Solutions Asia is the power systems business unit of Rolls-Royce. The unit provides cutting-edge power solutions and service support for industries like oil and gas, mining, commercial marine and power generation, and more. Singapore is where Rolls-Royce’s Power Systems business has its regional headquarters – and it has forged strong partnerships here, enabling it to serve over 30 countries across the region.   Rolls-Royce Solutions Asia has approximately 300 employees locally and remains committed to talent development – swipe to read what Rolls-Royce employees have to say about their careers. Looking ahead, Rolls-Royce aims to be a net-zero company by 2050 and it is pursuing this effort from Singapore. Besides exploring the use of sustainable fuels, Rolls-Royce is investing in innovative products and technologies like combustion engines that are compatible with alternative fuels, and e-fuels produced using green, renewable electricity.   Find out more: https://lnkd.in/ga_4D2qk

Singapore's #MedTech sector has seen rapid growth! Its contribution to Singapore’s manufacturing output rose six-fold, from S$3b in 2008 to S$18.7b in 2022. The number of local health and biomedical startups has also increased around six-fold – from 59 in 2010 to over 300 in 2020. The sector provides 16,000 jobs locally. US biotech Illumina has used its Singapore #manufacturing hub to supply over 90% of its global demand for genetic testing tools, while US eyecare giant Alcon partners with local enterprise Sanwa for packaging of its products, strengthening its supply chain. They are among the MNCs and local enterprises specialising in medical devices, digital health, life sciences tools and diagnostics and serving customers globally, from Singapore. To attract more MedTech companies, create good jobs and augment healthcare services, #Singapore is: ✅ Enabling more research & innovation, such as through the S$38 million MedTech Catapult plan by A*Star ✅ Creating a conducive environment for experimentation ✅ Supporting the sector’s emphasis on sustainability Learn more about Singapore’s MedTech sector and what it offers businesses and talent.

Danish #healthcare company Novo Nordisk has expanded its office in #Singapore, as it pursues opportunities for growth in the region. The Singapore team will continue to drive the development and commercialisation of treatments for chronic diseases like diabetes and obesity. Singapore is Novo Nordisk’s Southeast Asia hub for commercial, supply chain and scientific operations functions. It opened its regional office here in 2022 and has since doubled its headcount. The pharma giant has also started the Singapore Digital Innovation Hub to strengthen ties with the local healthcare ecosystem, including entrepreneurs, the research community and tech specialists, to advance research and innovation for better patient outcomes. For example, Novo Nordisk is currently working with A*STAR - Agency for Science, Technology and Research to address cardiovascular and non-alcoholic fatty liver disease. Novo Nordisk is among a growing pool of healthcare companies tapping on Singapore’s robust biomedical sciences ecosystem to serve patients around the world. Read about how Singapore continues to strengthen its healthcare sector and partner companies for growth: https://lnkd.in/gxzBRKMf