EMBARGOED TILL DELIVERY

Transcription

1 EMBARGOED TILL DELIVERY WELCOME SPEECH BY MR PHILIP KIA, DEPUTY CHAIRMAN,SINGAPORE PRECISION ENGINEERING AND TECHNOLOGY ASSOCIATION (SPETA) AT THE OFFICIAL OPENING OF MEDICAL MANUFACTURING ASIA 2018 AND MEDICAL FAIR ASIA 2018 on 29 AUGUST 2018 at 9:10AM SANDS EXPO AND CONVENTION CENTRE, MARINA BAY SANDS SINGAPORE Dr Koh Poh Koon, Senior Minister of State for Trade & Industry Mr Gernot Ringling, Managing Director, MesseDüsseldorf Asia Your Excellencies, distinguished guests, media, ladies and gentlemen Introduction 1. A very good morning to everyone. It is my pleasure to welcome you to the official opening of these two exhibitions: MEDICAL MANUFACTURING ASIA and MEDICAL FAIR ASIA Once again we are delighted to be partnering Messe Düsseldorf Asia for the fourth edition of MEDICAL MANUFACTURING ASIA a specialist trade fair for the MedTech players in Singapore and the region to highlight their capabilities, products and services. 3. From when it first started back in 2012, MEDICAL MANUFACTURING ASIA continues to strengthen its foothold as Asia s specialist platform for the medical technology, manufacturing processes and related sectors. This year the exhibition welcomes170 leading MedTech companies from 24 countries, including country pavilions from Austria, China,Europe, Germany, Japan, Malaysia, Singapore, Taiwan and USA all testament to Singapore s position as an emerging MedTech hub for the region. 1

2 Singapore: Hub for leading medical technology manufacturers 4. The output of the Singapore medical technology manufacturing sector has more than tripled from S$1.5 billion to S$5.5 billion since Singapore houses a world-class concentration of services that fully support the medical and healthcare sector. Singapore has built a reputation as a trusted manufacturing base for complex and high-quality medical devices, as well as providing an innovative ecosystem that promotes the development of new technology, alongside a stable and trained workforce. The government will continue to make significant investments in advanced manufacturing technologies to ensure it remains a hub for the world s leading medical technology manufacturers well into the future. 5. As consumers increasingly take a proactive approach to seek higher quality medical care and lifestyles, demand for MedTech is expected to increase. By 2020, Asia-Pacific is expected to surpass the European Union as the world s second-largest MedTech market after the United States The manufacturing sector is rapidly transforming, driven by advanced technology that is directly impacting the manufacturing landscape.with the changes in the business environment and shifts in technology, it is critical that the MedTech industry develops market-appropriate products that are rooted in innovation in order to succeed in the future economy. Growth of Singapore s Precision Engineering sector 7. Singapore Precision Engineeringis the backbone of the manufacturing sector, supporting sectors such as MedTech and life sciences, electronics, aerospace, and oil and gas, and integral to Singapore s future economy. The PE industry contributed S$34 billion of output in 2015 and is projected to grow further to S$42 billion by McKinsey report, MedTech in Asia: Committing at scale to raise standards of care for patients 2 EDB (Economic Development Board) 2

3 8. The mission of Singapore Precision Engineering and Technology Association, as embedded in our short name SPETA are driving our members towards Specialization, Productivity, Technological advances, and forming alliances and collaboration. Together with our Government, Research institutes, to enhance members operational efficiency via adoption of digital, advance and smart manufacturing, and industry 4.0. Transform and move up the value chain, to become product, component or process specialist. SPETA is a dynamic and energetic Association. Our membership has grown by more than 130% over the last two years. Members from SME, large local corporations to MNCs serving diverse industries with MedTech as one of the key growth driver. We have companies from overseas and associations from Vietnam, Thailand, Hongkong, Germany, Japan as our members. We will continue to engage Associations from other ASEAN countries for collaboration in Technology, Business and Operations. 9. Singapore s precision engineering sector is a formidable industry made up of more than 2,800 companies, ranging from small and medium enterprises (SMEs) to large multinational corporations (MNCs) offering a wide spectrum of competencies that are capable of fulfilling requirements of the highly regulated medtech framework that come with unique research, design, development and manufacturing considerations. 10. Singapore is now home to more than 60 multinational MedTech companies undertaking a range of activities from regional headquarters and manufacturing, to research and development, and 25 R&D centres and a local pool of over 220 medtech start-ups and SMEs 3. In fact, local precision engineering companies spent S$313 million, or 50 per cent more on R&D in 2016 compared to the previous year 4. 3 EDB (Economic Development Board) 4 Department of Statistics, Singapore 3

4 11. To this end, under the Research, Innovation and Enterprise (RIE) 2020 plan, the Singapore Government will invest S$3.3 billion to deepen the technological capabilities and competitiveness of Singapore's manufacturing and engineering sectors, advance human health and wellness, and leverage the country's digital capabilities to raise productivity and meet national priorities. 12. The country is among the most sought-after locations for companies looking for a place to anchor their presence in Asia. Singapore has positioned itself as an international leader across the spectrum of manufacturing technologies, from undertaking activities across the entire value chain, to design and mass production. MEDICAL MANUFACTURING ASIA 2018: The procurement platform offering MedTech solutions 13. As the only specialist exhibition of its kind serving the MedTech sector, MEDICAL MANUFACTURING ASIA is a premier B2B procurement and networking platform that provides an excellent opportunity to determine market potential, identify new agents and distributors, and to initiate joint ventures and project partnerships. Over the next three days, I would like to encourage global MedTech businesses to connect with our local companies and explore ways to benefit from each other s strengths and tap into Asia s fast growing MedTech markets. 14. In conclusion,i would like to thank our Guest-of-Honour, Dr Koh Poh Koon,for gracing us with his presence. I would also like to express my appreciation to our co-organiser Messe Düsseldorf Asia for yet another successful collaboration. We look forward to enhancing our relationship and working closely with the industry in providing companies the opportunity to explore new business partnerships and expand their knowledge of the industry and key players in Asia. 4

5 15. I wish all of you a fruitful time at the exhibitions and to our overseas delegates a most enjoyable experience here in Singapore. Thank you. ********************** 5