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There are deep rumblings afoot in Singapore’s manufacturing sector, and I feel the world will quickly be stunned at its rise to world prominence.
In current many years, know-how, globalization and Asia’s rise have all prompted important modifications within the manufacturing sector. At the very least inside the confines of Asian and ASEAN nations, this has usually meant a race to the underside for competitiveness based mostly on worth, moderately than worth. With Singapore arguably being higher identified for monetary companies and tax incentives, you may assume it will don’t have any future within the world manufacturing sector.
I’m happy to say, that’s an entirely incorrect assumption.
Whereas low-cost and repetitive-task human labor has had its heyday, Singapore has proven itself to be a lighthouse of forward-thinking. By absolutely embracing Trade 4.0, Singapore is transferring up the worth chain in an effort to consolidate its place because the world’s main industrial hub.
Such a lofty ambition takes immense proactivity in fact, so listed below are 4 the reason why Singapore would be the world’s main industrial hub.
1. The Singapore authorities’s foresight
Singapore has an extended historical past of exhibiting immense foresight into the wants of the nation. Essentially the most well-known instance of this