S'pore prepares groundwork for biomedical facility

S'pore prepares groundwork for biomedical facility

Agence France Presse, Singapore

Singapore on Thursday began construction of a multi-million
dollar, 1.8 million square-foot (162,000 square-metre) facility
dedicated to research and development in biomedical sciences.

The facility, which is expected to be ready in 2003, signals
the city-state's determination to branch out into knowledge
intensive industries offering high growth prospects, thereby
reducing reliance on the manufacturing sector which has been
severely hit by the global slowdown.

"Although manufacturing will continue to be a major pillar of
Singapore's economy, we must give greater emphasis to high-value,
knowledge intensive activities," said Trade Minister George Yeo
who spoke at the groundbreaking ceremony.

"Research and development, product design and marketing will
all become more important," he said.

Half of the output from the manufacturing sector, which
accounts for a quarter of gross domestic product, is made up of
electronics.

With the global slowdown and weak demand for electronics
worldwide, Singapore's electronics exports have dropped sharply,
dragging the economy into its worst downturn since statehood in
1965.

The biomedical sciences has been identified by policymakers as
a potential new growth sector and the government has set aside
more than one billion dollars to develop the industry.

Yeo said the biomedical sector "will be an exciting new
frontier" for the island-state and promised the government will
put in the necessary resources into the industry.

"In our efforts to realize this vision, we are leaving no
stone unturned," said Yeo.

"We must create a stronger buzz in our local research scene as
research is after all key to the development of the biomedical
sciences industry," he said.

The Biopolis, which will have its first building in 2003, is
spread over eight hectares (18.76 acres) and will house 2,000
scientists and professionals.