Strong Potential for Singapore to Lead Global Water Industry: SingaporeSetup.com
The robust performance of Singapore’s water industry to date coupled with its hosting of the Singapore International Water Week (SIWW) 2011 signal that the country is set to be at the forefront of the global water industry.
Singapore (PRWEB) July 10, 2011
The robust performance of Singapore’s water industry to date coupled with its hosting of the Singapore International Water Week (SIWW) 2011 signal that the country is set to lead the global water industry, forecasts Singapore business incorporation portal, http://www.SingaporeSetup.com.
According to Singapore’s Environment and Water Industry Program Office, Singapore’s water industry is on its way to make a projected S$1.7 billion value-added contribution to the country’s GDP by 2015. It is also set to churn as many as 11,000 jobs, primarily in professional and skilled categories. Additionally, the Ministry of the Environment and Water Resources aims to meet 30% – 50% of Singapore’s future water needs through increased supply from non-conventional sources such as desalination and water reclamation (NEWater) by 2060.
SingaporeSetup.com agrees that these targets are attainable and that there is strong potential for Singapore to lead the global water industry. Ms. Catherine Lee, Senior Editorial Board Member of the Singapore company setup portal commented, “It is not difficult to see how Singapore’s water industry is showing strong potential to lead innovation globally. In a bid to achieve water self-sufficiency by 2061, Singapore has cultivated a network of over 70 water-related companies that benefit from thriving affiliated sectors such as science and engineering. Additionally, Singapore’s high esteem for innovation and willingness to invest in research and development bode well for the country’s water industry. On a macroscopic level, these factors are crucial in contributing to Singapore’s current economic vitality.”
Data from the Singapore Economic Development Board (EDB) shows that Singapore-based water companies are thriving under a S$330 million injection and developing innovative solutions to meet the future needs of countries worldwide. Between 2006 and 2010, Singapore’s water industry registered S$8.4 billion in projects. Hyflux, a Singapore-based integrated water solutions provider, is leading the way as a global membrane-based desalination supplier. Recently, Fluigen, a water technology company, announced a breakthrough technology that could cut the detection time of water-borne pathogens such as E-coli from 24 hours to just an hour. Another enterprise, Membranes Instruments and Technology (MINT), has developed a sensor-based technology that is set to optimize performances of water plants and minimize production costs.
“These enabling technologies have not been created in a vacuum. They have been catalyzed by an effective jurisdiction that values and willingly invests in innovation that not only helps Singaporeans, but the world as well. Innovation is not a piecemeal effort for Singapore, but a consistent factor that has contributed to the holistic growth in many of Singapore’s key industries. This in turn spells good news to foreign enterprises that wish to jump-start their water-solutions business by setting up a Singapore subsidiary company or Singapore branch office in the country,” added Ms. Lee.
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