Beyond 2021, the Ministry of Trade and Industry has announced ambitious targets to grow Singapore’s manufacturing sector by 50% of its current value (estimated at around S$106 billion) as part of the Manufacturing 2030 plan. To help achieve this target, JTC has been working closely with our partners to complete several projects over the past year. Since 2020, the following key milestones have been achieved:

The manufacturing sector is a key pillar of Singapore’s economy. It contributes about 21%, or $106 billion of the country’s total Gross Domestic Product, and employs close to half a million workers.

Globally, manufacturing is changing. Through digitalisation and automation, manufacturing in the age of Industry 4.0 will become smarter and more advanced. For Singapore to maintain its competitive edge, it needs to be agile and adapt accordingly.

Innovation districts have the unique potential to spur productive, inclusive and sustainable economic development. At a time of sluggish growth, they provide a strong foundation for the creation and expansion of firms and jobs by helping companies, entrepreneurs, universities, researchers and investors—across sectors and disciplines—co-invent and co-produce new discoveries for the market.

Singapore launched its nationwide parcel locker network (Network), operated by Pick Network Pte Ltd (Pick) today. The Network provides consumers with greater convenience while enhancing the efficiency and sustainability of the urban logistics sector amidst the e-commerce boom.

The acceleration of e-commerce in Singapore has led to a corresponding increase in the volume of online purchases and deliveries. In turn, this increases the use of vehicles and drivers to make deliveries, and delivery volume on the roads to residential areas. 

Stellar Ace, previously known as SMRT Media, aims to become advertisers’ go-to for creative ideas in reaching their target audience. These screens will be lifestyle skewed to host a myriad of content ranging from local town council news for the estates, nationwide updates on public advisories, and a haven for value seekers with ‘lobangs’ (goodies) through commercial advertisements.

Stellar Ace has introduced a new sales package for potential advertisers “with very cost-effective ROI from as low as $0.0073 per spot”.

IMF research indicates that low interest rates contributed to the boom in house prices, as did policy support provided by governments and workers’ greater need to be able to work from home. In many countries, including the United States, online searches for homes reached record levels. Along with these demand factors, house prices also increased as supply chain disruptions raised the costs of several inputs into the construction process.

Lack of affordable housing forces low-income workers to live farther away from their jobs, "requiring long and costly commutes and reducing productivity," Moody's Analytics says in its study.

The world needs to build 96,000 new affordable homes every day to house the estimated 3 billion people who will need access to adequate housing by 2030, UN-Habitat says.

The organisation says its advice has helped 43 countries improve their housing policies.

Unlocking land values to finance urban infrastructure Land-based financing options for cities

George E. Peterson

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