Speech by Minister of State for Trade and Industry Teo Ser Luck at the Launch of the UK–Singapore Materials Workshop at Breakthrough Theatrette, Matrix Level 4, Biopolis at 10.30am on 6 December 2012
His Excellency Antony Phillipson, British High Commissioner to Singapore
Professor Freddy Boey, NTU Provost
Distinguished Guests
Ladies and Gentlemen
1. Good morning. I am pleased to join you at the launch of the UK-Singapore Materials Workshop.
2. I would like to congratulate my alma mater Nanyang Technological University and the British High Commission Singapore for organising this workshop, aimed at promoting collaborative links between Singapore and the UK research communities and to further the field of materials science and engineering.
3. Singapore and the UK enjoy close historical ties and broad-based cooperation in areas such as education, culture and science and technology, just to name a few. We also have strong bilateral economic ties. The UK is Singapore’s fourth largest European trading partner with bilateral trade valued at $15.9 billion in 2011. With an investment stock of $50.2 billion as at the end of 2010, the UK is Singapore’s fourth largest investor.
Strengthening R&D Ties between Singapore and UK
4. Singapore has also strengthened its R&D ties with the UK through extensive collaborations between our research institutions and universities in fields ranging from biomedical sciences to aerospace engineering. Both countries recognise that R&D and innovation are key drivers for economic success. That is why R&D cooperation has been established as a key pillar in the Economic and Business Partnership agreement signed by both countries last year. Our cooperation would include regular consultations and exchanges.
5. I am pleased to note that many leading companies from the UK such as Rolls-Royce and GlaxoSmithKline (GSK) have established their R&D presence in Singapore and formed partnerships with our companies.
6. An excellent example is Singapore’s Nanyang Technological University (NTU)’s successful tie-up with Rolls-Royce. In 2009, the British aerospace giant partnered NTU in a five-year agreement to conduct research in areas such as improving the manufacturing process of engine parts.
7. More recently, in May this year, Rolls-Royce, together with SIMTech, NTU and a few other industry leaders, signed a Memorandum of Understanding to establish the Advanced Remanufacturing & Technology Centre (ARTC) in Singapore. The ARTC aims to develop innovative remanufacturing technologies for various industry sectors through collaborations with academia and industry.
8. Such collaborations attest to Singapore’s growth as a leading R&D hub in the region, and we hope to see more of these in the future. We would also like to encourage more UK companies to leverage on Singapore’s value proposition as a launch pad and regional headquarters for business operations in Asia.
Singapore as a R&D Hub
9. The Singapore Government has consistently invested in R&D as part of our strategy to transform Singapore into a knowledge-intensive, innovation-driven economy. Two years ago, we announced the Research, Innovation and Enterprise plan which will see the Government investing $16.1 billion between 2011 and 2015 in R&D and innovation. To encourage more industry-oriented R&D, 70 per cent of this budget has been set aside to support R&D in areas that are aligned to our industry development strategies.
10. Singapore aims to continue strengthening the nexus between academic institutions and industry partners, as this allows for the rapid commercialisation of scientific breakthroughs, which in turn spurs economic growth. The Agency for Science, Technology and Research (or A*STAR) and the National Research Foundation have played a pivotal role in supporting public sector research in strategic areas.
11. There is also strong support from research communities, both locally and internationally. In this regard, NTU, which is long established in the field of research, has been active in cultivating the spirit of entrepreneurship among its students and forging close industry collaborations.
12. I am sure that the learning experiences and synergy of ideas that take place at today’s workshop will culminate in fruitful outcomes. I wish this event a great success and I look forward to more partnerships between Singapore and the UK.
13. Thank you.