SPEECH BY MR LIM HNG KIANG, MINISTER FOR TRADE & INDUSTRY (TRADE), AT THE OPENING CEREMONY OF PRIME EVOLUE SINGAPORE’S EVOLUE PLANT ON 10 APRIL 2017, 7.00PM, AT FULLERTON HOTEL
Mr Tsutomu Tannowa, Chairman of the Executive Board of Mitsui Chemicals
Mr Yoshihisa Matsumoto, Executive Vice President & Representative Director, Idemitsu Kosan
Mr Yoshihiro Hombo, Representative Director and Executive Vice President, Mitsui & Co
Mr Takeshi Kaide, President, Prime Polymer Group
Your Excellency, Mr Kenji Shinoda, Ambassador of Japan,
Distinguished guests,
Ladies and Gentlemen,
Introduction
1. Good evening. I am pleased to join you today to celebrate the opening of Prime Evolue Singapore’s plant, which is a joint venture between the Mitsui Chemicals Group and Prime Polymer Group.
2. This is the group’s first Evolue plant outside Japan, and represents an important milestone in our growing partnership with Prime Evolue Singapore. This investment also attests to the continued attractiveness of Singapore as a location for high-value manufacturing activities.
Singapore’s Energy & Chemicals industry is well positioned to serve the opportunities in Asia
3. Manufacturing continues to be a key pillar of Singapore’s economy, and the Energy & Chemicals industry remains a strong contributor to our manufacturing sector. For instance, the Energy & Chemicals industry contributed about a fifth of Singapore’s manufacturing value added in 2016 and employed around 25,000 people.
4. While global economic conditions remain uncertain, we continue to see opportunities in Asia, driven by megatrends including urbanisation, rising demand for water and food security, as well as the growing middle-class. For example, the middle-class in Asia is expected to account for over 60% of the global middle-class by 2030.
5. Our Energy & Chemicals industry is well placed to serve the growing needs of the region, and many companies have expanded their operations in Singapore to capture these opportunities.
a. For instance, in October last year Evonik announced plans to expand its methionine manufacturing plant to meet the growing demand for the essential amino acid used in poultry farming.b. In July last year, 3M also expanded their Tuas manufacturing plant to increase the production capacity of its adhesives, protection film and film dressings for the automotive, electronic and healthcare sectors.
6. In line with increasing affluence and a preference for conveniently packaged food, the chemicals industry will also likely see strong demand for high-performance food packaging. Prime Evolue Singapore’s new plant will produce the raw material for high functional sealant film used in powder and liquid packaging and will better position the company to serve the region’s increasing demand for high-performance food packaging.
Commitment to strengthen the competitiveness of our manufacturing sector
7. Moving forward, we will continue to invest in advanced manufacturing and strengthen the competitiveness of our manufacturing sector. The Committee on the Future Economy (CFE) has also identified advanced manufacturing as one of the key growth areas for Singapore, and recommended that we build a globally competitive manufacturing sector at around 20% of GDP over the medium term.
8. To this end, the Government has committed S$3.2 billion for Advanced Manufacturing and Engineering (AME) as part of our Research, Innovation and Enterprise (RIE) 2020 plan. The Singapore Economic Development Board (EDB) is also working closely with manufacturers to adopt advanced manufacturing technologies in their operations. For example, EDB supported Sumitomo Chemical to pilot the adoption of Industrial Internet of Things (IIoT) technologies in their Singapore site to improve efficiency and raise productivity.
Equipping our people with the relevant skills
9. As we develop our manufacturing sector, it is important that we work closely with our partners to equip our workforce with the requisite skills to benefit from the new job opportunities.
10. The SkillsFuture Earn and Learn Programme for Energy & Chemicals is an example of such efforts. This initiative, introduced in May 2016, provides our young talent early exposure to the industry, and enables companies to cultivate them with a view to hiring upon graduation. There are currently 26 participants undergoing a 18-month structured programme with on-the-job training and mentorship across eight companies, including Mitsui Chemicals Group.
11. I am also pleased to hear about Mitsui Chemicals Group’s commitment to invest in and develop our people. Let me share the example of Mr Goh Lak Whatt, who is currently in his late 40s. Mr Goh joined Mitsui Elastomers Singapore as a Shift Supervisor in 2002. He went on to lead a team of process technicians as Production Superintendent, before becoming Assistant Manager, and subsequently, Manager for Production. In 2011, Mitsui sponsored Mr Goh for a part-time diploma to better prepare him for his leadership role. Mr Goh, who graduated with a Diploma in Mechanical Engineering from Singapore Polytechnic, has found the experience and knowledge gained valuable in helping him to be more effective in his leadership. We encourage more companies to provide similar opportunities for our people to upskill themselves.
Conclusion
12. In closing, I would like to congratulate your teams on the opening of this plant. We thank you for your confidence in Singapore, and look forward to deepening our partnership.