Singapore's automation incentives draw tech firms
FOREIGN precision engineering firms are investing more in Singapore, drawn by strong semiconductor demand and government incentives aimed at re-tooling an economy short of skilled labour.
The city-state is running programs worth billions of dollars to support productivity, automation and research, attracting global chipmakers including US-based Micron Technology Inc and Germany’s Infineon Technologies.
This investment rush into electronics helped the technology sector log 57 per cent output growth on average in October-February from a year ago and kept Singapore from recession late last year.
“I’ve lived in Europe, I’ve lived in Japan, I’ve spent a lot of time in Taiwan and other countries. From a proactive standpoint, Singapore is about as good as it gets,” said Wayne Allan, vice president of global manufacturing at Micron, adding the Singapore Government’s long-term vision was key to Micron expanding its investment.