Mr Lee Yi Shyan at The Groundbreaking Ceremony Of The JTC Biomed One

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SPEECH BY MR. LEE YI SHYAN, SENIOR MINISTER OF STATE, MINISTRY OF TRADE & INDUSTRY AND MINISTRY OF NATIONAL DEVELOPMENT, AT THE GROUNDBREAKING CEREMONY OF THE JTC BIOMED ONE @ TUAS BIOMEDICAL PARK, ON THURSDAY, 28 NOVEMBER 2013, AT 2.00 PM, AT TUAS BIOMEDICAL PARK

Mr Png Cheong Boon, CEO, JTC

Distinguished Guests

Ladies and Gentlemen

Introduction

1.             It gives me great pleasure to join you today at the official launch of the JTC BioMed One.

The biomedical industry – a strong performer in the manufacturing sector

2.             The biomedical industry is a star performer in Singapore’s manufacturing sector. In the last decade, its manufacturing output increased fivefold, from $6 billion to $29 billion. Employment in the industry also rose significantly, from 6,000 to 18,000. Today the biomedical industry has the highest value-added amongst all manufacturing clusters – at $977,000 per worker, with 70 per cent of jobs held by Singaporeans.

Biomedical Cluster – Contributing to R&D and creating high quality jobs

3.             The growth of the biomed industry has also strengthened our national R&D efforts. In particular, it has led to more opportunities for collaboration between public and private sector research laboratories and our universities. One example is a tie-up between the Novartis Institute of Tropical Diseases and the Singapore Immunology Network, which is part of A*STAR, on the development of a potential dengue vaccine that can target all four strains of the dengue virus. Today, there are more than 7,100 researchers carrying out biomedical sciences R&D in our companies, universities and public-sector institutions.

Tuas Biomedical Park – clustering to grow the industry

4.     To create a conducive environment for the biomedical industry, JTC has been working closely with the Bio-pharmaceutical Manufacturers Advisory Committee (BMAC) to design and develop customised spaces to meet the specific needs of the industry. The Tuas Biomedical Park (TBP) is therefore a commendable outcome of this joint collaboration.

5.             Today, TBP is endorsed many times over by its long list of distinguished customers: Abbott, Ciba Vision, GlaxoSmithKline, Lonza, MSD, Pfizer and Roche just to name a few. Their facilities house a wide-range of operations including process development and the manufacturing of active ingredients, nutritionals, biologics and medical devices.

SMEs – an integral part of the industry’s eco-system

6.             Complementing Biopolis at One North, TBP here has steadily built up its community and industry linkages. SMEs in particular have and can continue to benefit from the presence of large biomedical multinationals in the TBP. In fact, a number of local SMEs are already offering their services in support of the multinationals in areas such as plant fabrication, maintenance, and equipment calibration.

7.             Conceived as the next phase of development for TBP, the $62 million BioMed One will feature a Vendors Hub which serves as a platform for biomedical companies located there to aggregate their demands for supporting services, process equipment and laboratory supplies.

Other efforts in growing SMEs’ biomedical capabilities

8.             Clearly there are synergies for multinationals and SMEs in the biomedical cluster working closely together. To facilitate such collaborations, SPRING has set aside $60m to expand the Partnerships for Capability Transformation program or PACT in this year’s Budget. Partnering companies could collaborate in the areas of partner development, knowledge transfer and co-innovation and enjoy funding support level up to 70 per cent of qualifying project cost.

9.     Our biomed companies can also make use of another initiative called the Private Sector Translator (PST). Managed by SPRING, the PST seeks to help our companies identify intellectual properties and develop these into usable technologies for commercialisation. By accessing the PSTs’ capabilities on a pay-per-use model, SMEs do not need to set up their own in-house research facility saving on manpower and equipment. Such technology-based products will put SMEs in a stronger position to compete internationally.

Conclusion

10.        Together with the Biopolis @ one-north and MedTech Hub @ Tukang Innovation Park and the BioMed One at Tuas Biomedical Park, we are creating a R&D-based and innovation-led infrastructure for our biomed industry to flourish. It is our hope that the industry continues to grow in breathe and depth as it becomes a vibrant industry cluster here.

11.        I congratulate JTC, BMAC,

A*STAR, SPRING and EDB for taking the industry to where it is today. We have achieved much but there is much more we can accomplish. Thank you and may I wish you great success ahead.