New: You can now listen to articles.SINGAPORE: Amid a manpower crunch and global crises that have disrupted supply chains, the Singapore Manufacturing Association has called on the sector to innovate or risk falling short of its 10-year growth target.
The sector has since grown by 17 per cent to about S$125 billion, or 18.6 per cent of the total GDP, in 2023. It now uses recyclable paper and plastics to make its tea bags, which can biodegrade in a shorter period of time compared to conventional plastics. It also uses compostable tea bags, which are plant-based and more environmentally friendly.
“I think with the Red Sea crisis and what’s happening in the Middle East, Singapore companies are having to deal with a much more complex supply chain,” he added. He noted that the sector has always faced a lack of skilled labour, with many engineers choosing to go to other industries like IT and finance.
Bigger companies can parachute their talent in and train Singaporeans, for instance, or invest in research and development to drive the manufacturing sector forward.
Source: Tech Daily Report (techdailyreport.net)
Singapore Economy
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