Restructuring for higher value manufacturing: the case of Singapore Online publication date: Sat, 10-Mar-2007
by K.T. Yeo
International Journal of Management and Decision Making (IJMDM), Vol. 8, No. 2/3/4, 2007
Abstract: This paper is a reflection and further conceptual development of a recent economic review on the current state of manufacturing in Singapore. This paper also includes future challenges and proposed ways ahead to sustain further economic growth especially in high-value manufacturing sectors. Singapore's manufacturing has progressed beyond the simple assembly operations. Its further upgrading, however, may be hindered by its inherent structural problems mainly due to the high operating costs, shortages of land space and human talents and smallness of local market. The emergence of China as the world's factory will have long-term implications for Singapore's manufacturing industry. The strategy ahead is to focus on higher value-added manufacturing by strengthening the existing clusters in electronics, chemical, transport and logistics. The strategy also focuses on the nurturing of promising new cluster in biomedical sciences. The drivers for technological, market and enterprise development are identified, outlined and explained in terms of certain conceptual framework.
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