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MTI rebuts Ngiam Tong Dow on SG backing away from manufacturing

makapaaa

Alfrescian (Inf)
Asset
[h=2]MTI rebuts Ngiam Tong Dow on SG backing away from manufacturing[/h]
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April 2nd, 2013 |
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Author: Contributions

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In his speech, Mr Ngiam Tong Dow (“Let’s get our young talent job ready”; last Wednesday) asserted that Singapore has backed away from manufacturing, and instead has promoted low-skilled and low-wage service industries since the global financial crisis.
This is incorrect. Manufacturing continues to remain a key pillar of Singapore’s economy. It accounts for about 21 per cent of our gross domestic product (GDP), and we are committed to sustaining it at 20 per cent to 25 per cent of GDP.
Singapore has also not shifted away from growing higher-value-added manufacturing activities since the financial crisis.
Conversely, our growth strategy in attracting higher-value-added and higher-technology investments remains intact.
A case in point is Rolls-Royce’s investment to assemble the Trent aero-engines here, a knowledge-based industry that Mr Ngiam cited. The investment was in fact secured after the financial crisis broke and not before.
Many global companies such as GlaxoSmithKline and Applied Materials continue to base their high-value and innovation-intensive manufacturing functions here.
These projects have replaced low-cost, labour-intensive manufacturing and created good-paying and highly skilled jobs.
The Economic Development Board’s $500 million Future of Manufacturing initiative will further drive the development and adoption of new enabling technologies, capabilities and business models across the entire value chain.
Singapore is similarly moving up the value chain to build strong capabilities in research and development, supply chain management and HQ functions.
These capabilities complement the growth of our manufacturing industries and strengthen our position as a manufacturing location.
Contrary to Mr Ngiam’s belief, these are high-value-added industries that require technical and professional expertise, and provide Singaporeans with good-paying job opportunities.
.
Cindy Keng (Mrs)
Director (Corporate Communications)
Ministry of Trade and Industry
* Letter first appeared on ST Forum (2 Apr).
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Editor’s note: Mr Ngiam is not entirely wrong to assert that Singapore is backing away from manufacturing if one is to look at the figures, not withstanding MTI/EDB’s attempt to attract higher-value-added manufacturing activities into Singapore.
In fact, in the 80s, manufacturing sector contributed as much as 30% of the GDP:
http://www.encyclopedia.com/topic/Singapore.aspx
By the late 1980s, Singapore had begun to further diversify its economy, making it capable of providing manufacturing, financial, and communications facilities for multinational firms. In the late 1980s, one of the fastest-growing sectors of Singapore’s economy was international banking and finance, accounting for some 25% of GDP. It ranked behind Tokyo and Hong Kong among financial service centers in the Southeast Asia region. In 1989, earnings from manufacturing accounted for 30% of GDP. Manufacturing accounted for 24.3% of GDP in 2002.
By the 2000s, it started to decline as % of GDP. Even now, MTI (in the above letter) said, “We are committed to sustaining it at 20 per cent to 25 per cent of GDP.”
So, looking at historical figures, Mr Ngiam is essentially saying that Singapore’s economy now depends less in manufacturing than before. It has to be cause Singapore has no choice after the fall of communism in Eastern Europe as well as the opening up of China in the late 80s. Previously, there is an “iron curtain” forbidding investments from the West to these countries. Now, it’s a fair game for everyone… in fact, the SG Govt went ahead to open up 2 casinos in Singapore is another implicit acknowledgement to the decline of manufacturing contribution as a % of GDP…

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kingrant

Alfrescian
Loyal
The question then is how many of our PMETs are employed in these sectors and what proportion of the total working population and what is the ratio of foreigners to locals and what nationalities?
 

pegasus

Alfrescian
Loyal
Will also like to know about the S$800m subsidy they gave to Rolls Royce to come to Singapore. How many jobs for locals did this create? What kind of ROI on this S$800m gift to RR? Who else in Seletar Aerospace Park has receieved these generous subsidy gifts? From which budget did these subsidies come from? :confused:


Contrary to belief, MTI is fulll of shits and fake scholars who know nuts.
 

soIsee

Alfrescian
Loyal
Will also like to know about the S$800m subsidy they gave to Rolls Royce to come to Singapore. How many jobs for locals did this create? What kind of ROI on this S$800m gift to RR? Who else in Seletar Aerospace Park has receieved these generous subsidy gifts? From which budget did these subsidies come from? :confused:

$800 million?

And that is not taking into account of the cost of the huge land that the FT had to use to set up their business to benefit the pappies pocket as huge salaries and those of their FT white kaki!
 

Leongsam

High Order Twit / Low SES subject
Admin
Asset
The question then is how many of our PMETs are employed in these sectors and what proportion of the total working population and what is the ratio of foreigners to locals and what nationalities?

As long as they hire the best, nationality does not matter.
 

whatthink

Alfrescian
Loyal
Question should be how many local willing to work in manufacturing (PMET or what ever level), or they more willing to work at CBD area even the pay maybe lower (assumption as most manufacturing provide free transport and staff canteen).

Our youngster these day care more on working status, MMC at Shenton Way and MMC (Manufacturing) at Tuas, which you think these graduate will go..
 

scroobal

Alfrescian
Loyal
$800m is a lot. More questions I suppose - returns, employment for locals % etc as you correctly point out.

It is a funny reply. All they gave was one company - Rolls Royce. Glaxo has been here for years. 20 to 25 compared to 30% of GDP is quite a difference. Also surprising as the person who they were rebutting steered EDB for years shortly after it came into being and led to much what EDB achieved. One would have thought that better and more researched response would be more appropriate.

Will also like to know about the S$800m subsidy they gave to Rolls Royce to come to Singapore. How many jobs for locals did this create? What kind of ROI on this S$800m gift to RR? Who else in Seletar Aerospace Park has receieved these generous subsidy gifts? From which budget did these subsidies come from? :confused:
 

scroobal

Alfrescian
Loyal
The primary reason why we are in this mess is because those who develop and execute policies take the path of least resistance and quick results. The typical tenure of a Mandarin is 2 years before his next post. Building a foundation to achieve the right results in the long run and for a sustained period of time would be counterproductive to their year end assessment.

I don't think they were aiming for cheapness or FTs per se. Its all about shortcuts, long hanging fruits and quick wins. In the past, you need to be in your late 40s and 50s to be PS, CEOS of major stat boards.


PAP's motto is: "As long as it is cheapest, it is best, regardless of quality/nationality"
 

jw5

Moderator
Moderator
Loyal
The primary reason why we are in this mess is because those who develop and execute policies take the path of least resistance and quick results. The typical tenure of a Mandarin is 2 years before his next post. Building a foundation to achieve the right results in the long run and for a sustained period of time would be counterproductive to their year end assessment.

I don't think they were aiming for cheapness or FTs per se. Its all about shortcuts, long hanging fruits and quick wins. In the past, you need to be in your late 40s and 50s to be PS, CEOS of major stat boards.

Scroobal you cunning and manipulative piece of shit, don't be sore just because the establishment discarded you too early in your own opinion lah.

For all their flaws and lack of empathy for the common people, at least they managed to see through your dysfunctional manipulative behaviour.

Boy, you must have had a tough childhood, being manipulated by your parents whenever they quarrelled, to become what you are today. Pathetic.
 
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