As productivity is a key priority, Government agencies have committed substantial resources to support all companies, big and small.
Second Minister for Home Affairs S. Iswaran, who is also Minister in the Prime Minister's Office and Second Minister for Trade and Industry, said this at the launch of the Mckinsey Productivity Sciences Centre, at the company's eighth Innovation Forum event, yesterday.
We crunch some numbers based on his speech:
$270,000
The amount of savings Singapore Refining Company (SRC) will enjoy per year, after Spring Singapore recently facilitated a project between the firm's resident contractors and its sub-contractors, to eliminate the need for contractors to set up and dismantle their portable compressors on-site.
5,200
The estimated man-hours saved by the SRC project.
$119 million
The amount that Li & Fung Logistics invested in a regional distribution centre here, with the support of the Government.
It will adopt state-of-the-art supply chain management and innovative handling technologies.
$250 million
The amount P&G's Singapore Innovation Centre is worth. It was unveiled in March.
$255 million
The amount that Amgen, the world's largest independent biotechnology company, invested in its first manufacturing facility here in Asia. Amgen chose Singapore as its preferred location to innovate new manufacturing technologies.
30 per cent
How much reliance on low-skilled labour is expected to be cut by. It will be reduced from the current 70 per cent to 40 per cent.
This article was first published on Oct 17, 2014.
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