Your Excellency Mr. Martin Harvey, New Zealand High Commissioner to Singapore

Dr Ross Green, CEO, Wellington Drive Technologies,

Distinguished guests,

Ladies and gentlemen

        It gives me great pleasure to join you this morning at the official opening of Wellington Drive Technologies’ Manufacturing and Logistics Head Office in Singapore. We are delighted that Wellington Drive Technologies, which is one of the world’s leading suppliers of energy-saving electronically commutated motors and fans, has selected Singapore as its manufacturing and logistics base.

2      Wellington’s investment is significant, especially at a time when the importance of sustainable development and for innovations in the field of promoting sustainable development has never been stronger. Singapore has adopted principles of sustainable development in the last 40 years to achieve a good balance between economic growth and a quality living environment, but more can and should be done. The pressures of population growth and urbanization on scarce resources globally are now becoming more evident. Rising fuel prices has intensified the demand on resources, especially energy. Resource efficiency will therefore be a major factor affecting the relative cost competitiveness of economies and businesses.

3      As a result of this concerted effort to try and do more for sustainable development, the Government recently set up the Inter-Ministerial Committee on Sustainable Development (IMCSD) which I co-chair together with my colleague, Minister for the Environment and Water Resources, Dr Yaacob Ibrahim, to develop a whole-of-Government approach to try to make sure that the drive for sustainable development cuts across all Government ministries and agencies. In this respect, I am happy to note that Wellington has decided to set up this head office in Singapore. This will enable the company to position itself as a global leader in energy-saving technology products, as well as play an important role in our own drive towards energy efficiency. We welcome your presence here.

Singapore: A global manufacturing hub

4      Wellington’s establishment of its manufacturing and logistics head office in Singapore also reflects its confidence in Singapore’s excellence in manufacturing. Manufacturing is and will remain a key component of Singapore’s economy. It accounted for an estimated 24 percent of our gross domestic product (GDP) in 2007. Geographically, Singapore also offers an excellent gateway to regional markets with our air, sea and info-communications linkages.

Unique Research & Development Infrastructure

5      Apart from these advantages, Singapore also offers a unique R&D infrastructure to support product development. We have more than 21,000 research scientists and engineers, as well as a strong intellectual property regime. Singapore’s open immigration policy and conducive living environment has also enabled us to attract top R&D talents from all over the world. Companies can also leverage on the various research institutes in diverse disciplines that we have in Singapore to stretch their R&D dollar.

Singapore’s commitment to innovation

6      The Government is committed to promoting innovation, which is a key driver of growth as we evolve into a knowledge-based economy. The Government has invested S$15 million in a Precision Engineering Centre of Innovation in 2008 to facilitate the development of technologies and manpower for the precision engineering industry. We will increase our R&D spending per year from the current 2.3% to 3% of our GDP by 2010.

7      The opening of the Wellington facility in Singapore is timely. Not only does it reflect the high level of confidence and trust that the manufacturing industry has in Singapore and the region, but it also demonstrates Singapore’s commitment to supporting technologies that can help reduce the impact on climate change. Wellington’s investment is the start of a journey to bring energy-saving technology and products into the world market place and into our homes.

Conclusion

8      We welcome your presence here in Singapore and look forward to a long and fruitful partnership. Let me extend my congratulations to Wellington on the official opening of your Singapore manufacturing plant, and may I wish you abundant success in the years ahead. Thank you.

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