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Singapore Chemicals2010 Part1.Pdf A Global Business Reports Publication, presented with Chemical Week Innovation, Evolution and Growth Chemical Industry in Singapore Boasting an advanced, integrated petrochemicals hub, a range of world-class service providers and an ideal business environment, Singapore has successfully attracted the chemical industry’s leading players. As competition increases in the region the country is looking to move further downstream, increase its e!ciency and enhance its R&D capabilities. ingapore is a country that attracted over 31 billion SGD of consistently punches above investment, world-class expertise Sits weight. Despite being the including excellent R&D and smallest nation in South East Asia training facilities and attractive with a landmass of only 274.2 government incentive packages, square miles and a population of the industry is continuing to just under 5 million, the island expand and develop. city-state is the 5th wealthiest The industry is however facing country in the world in terms of some challenges. As a response GDP per capita (49,433 USD ExxonMobil Chemical’s world-scale Singapore Chemical Plant to growing competition from in 2009). That this astonishing has been operating on Jurong Island since 2001 India, China and the Middle East, feat has been achieved in a mere and rising production costs at 49 years since the country attained its planning (the so-called Singapore Model), home, Singapore is seeking to distinguish independence from Britain in 1961 is access to a highly skilled and educated itself and keep its competitive advantages remarkable. workforce, and a stable, corruption-free by developing its downstream production A combination of factors help to government has helped to ensure the right and moving up the value chain, developing explain Singapore’s stratospheric infrastructure and economic conditions for its expertise in specialty chemicals and development. At the heart of this growth, attracting significant foreign investment. advanced materials. and the fundamental driver of the Rated the most business friendly country Two new crackers from Shell and country’s economy, is its geographical in the World Bank’s “Doing Business ExxonMobil, due to come on stream by position. Located in the middle of Asia 2008” report, Singapore has attracted over 2011, will increase Singapore’s total on the Malacca straights, the island is an 3,000 foreign multinationals from the US, ethylene output from 2 million tonnes ideal shipping point for goods traveling Japan and Europe. With excellent transport per annum (tpa) to 4 million tpa by 2012, along the east west shipping lines that and communication links and numerous providing the industry with the necessary link Asia Pacific to the West. Since the free trade agreements (16 bilateral and feedstock to produce specialty and British recognized its potential in the 19th multilateral with 24 trading partners, as of high value chemicals and move further century, Singapore has developed into one 2009) supporting its location at the centre downstream. of the world’s most important shipping of Asia Pacific, the country remains a top The island is also investing heavily and trading hubs. Today the Singapore choice for companies looking to enter or to develop its R&D capabilities in a Port is the world’s busiest in terms of expand in the region. move to make Singapore a centre for total shipping tonnage and is responsible Through the creation of the Economic new technologies and developments for a staggering one fifth of the world’s Development Board (EDB), responsible rather than merely a fast implementer. container transshipments. for creating solutions to attract investors The government has committed to raise Lacking space and natural resources, the and companies to Singapore, Singapore investment in research and development country has cleverly leveraged its unique has ensured that opportunities are well to 3.5% of the country’s GDP over the position. Through importing raw materials developed and created a centralized body for manufacturing and refinement and for speeding up and aiding the investment next five years. exporting finished products, the country has process. EDB has also developed a The industry has suffered the effects succeeded in building up an impressively range of attractive investment incentive of the global downturn. Cumulative diverse high-tech manufacturing sector, programs. output of the chemicals cluster from currently responsible for a quarter of A fundamental pillar of the country’s January to November 2009 contracted the country’s GDP and vital for driving manufacturing sector, Singapore’s 11.5% compared to the same period economic growth. Singapore has managed chemical industry has been remarkably in 2008, while new projects have been to achieve such impressive growth by successful in the last 15 years, experiencing delayed or put on hold. investing heavily in infrastructure, taking phenomenal growth. The Energy and With Asia expected to account for 50% advantage of the fact that English is Chemicals sector contributed 38.6% of the global demand for commodity the national language, a willingness to of total output worth around 97 billion chemicals by 2015, there is still adopt new technologies, ensuring strict Singaporean Dollars (SGD) in 2008. considerable growth potential for the intellectual property protection and a With the right measures in place, industry in Singapore, which is looking to knack for planning ahead. An innovative including a cutting edge ‘plug and play’ capitalize on its impressive past and find mixture of free market and economic chemical facility at Jurong Island which has the right solutions to ensure future growth. A Global Business Reports Publication, presented with Chemical Week Innovation, Evolution and Growth Chemical Industry in Singapore Boasting an advanced, integrated petrochemicals hub, a range of world-class service providers and an ideal business environment, Singapore has successfully attracted the chemical industry’s leading players. As competition increases in the region the country is looking to move further downstream, increase its e!ciency and enhance its R&D capabilities. ingapore is a country that attracted over 31 billion SGD of consistently punches above investment, world-class expertise Sits weight. Despite being the including excellent R&D and smallest nation in South East Asia training facilities and attractive with a landmass of only 274.2 government incentive packages, square miles and a population of the industry is continuing to just under 5 million, the island expand and develop. city-state is the 5th wealthiest The industry is however facing country in the world in terms of some challenges. As a response GDP per capita (49,433 USD ExxonMobil Chemical’s world-scale Singapore Chemical Plant to growing competition from in 2009). That this astonishing has been operating on Jurong Island since 2001 India, China and the Middle East, feat has been achieved in a mere and rising production costs at 49 years since the country attained its planning (the so-called Singapore Model), home, Singapore is seeking to distinguish independence from Britain in 1961 is access to a highly skilled and educated itself and keep its competitive advantages remarkable. workforce, and a stable, corruption-free by developing its downstream production A combination of factors help to government has helped to ensure the right and moving up the value chain, developing explain Singapore’s stratospheric infrastructure and economic conditions for its expertise in specialty chemicals and development. At the heart of this growth, attracting significant foreign investment. advanced materials. and the fundamental driver of the Rated the most business friendly country Two new crackers from Shell and country’s economy, is its geographical in the World Bank’s “Doing Business ExxonMobil, due to come on stream by position. Located in the middle of Asia 2008” report, Singapore has attracted over 2011, will increase Singapore’s total on the Malacca straights, the island is an 3,000 foreign multinationals from the US, ethylene output from 2 million tonnes ideal shipping point for goods traveling Japan and Europe. With excellent transport per annum (tpa) to 4 million tpa by 2012, along the east west shipping lines that and communication links and numerous providing the industry with the necessary link Asia Pacific to the West. Since the free trade agreements (16 bilateral and feedstock to produce specialty and British recognized its potential in the 19th multilateral with 24 trading partners, as of high value chemicals and move further century, Singapore has developed into one 2009) supporting its location at the centre downstream. of the world’s most important shipping of Asia Pacific, the country remains a top The island is also investing heavily and trading hubs. Today the Singapore choice for companies looking to enter or to develop its R&D capabilities in a Port is the world’s busiest in terms of expand in the region. move to make Singapore a centre for total shipping tonnage and is responsible Through the creation of the Economic new technologies and developments for a staggering one fifth of the world’s Development Board (EDB), responsible rather than merely a fast implementer. container transshipments. for creating solutions to attract investors The government has committed to raise Lacking space and natural resources, the and companies to Singapore, Singapore investment in research and development country has cleverly leveraged
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