Mr Lee Yi Shyan at the Opening Ceremony of AAC Technologies Pte Ltd, 22 Jul 09

Speech by Mr Lee Yi Shyan Minister of State for Trade & Industry and Manpower at the Opening Ceremony of AAC Technologies Pte Ltd on 22 July 2009 at 3pm, Level 1 East India Room, Raffles Hotel

Mr Benjamin Pan,

Chief Executive Officer, AAC Acoustic Technologies Holdings Inc.

Mr Koh Boon Hwee,

Chairman, AAC Acoustic Technologies Holdings Inc.

Ladies and gentlemen,

Good afternoon.

I am pleased to be here this afternoon, for the opening of AAC Acoustic Technologies’ International Headquarters and R&D center in Singapore. As China’s largest manufacturer of miniature acoustic components, AAC Acoustic Technologies’ presence here will add depth to Singapore’s electronics ecosystem.

Electronics industry continues to be important to our economy

The electronics industry is a key pillar of Singapore’s manufacturing sector. Last year, the electronics sector accounted for26% of Singapore’s manufacturing value Added and 73% of the manufacturing sector’s R&D spending. In addition, the strong base of electronics capabilities has enabled Singapore to grow new industries in areas such as medical technology, avionics and solar energy.

The Singapore government is committed to further growing the electronics and related sector. Through R&D infrastructure such as the Institute of Microelectronics and Data Storage Institute, and the various manpower training programs such as the EDB PREP-UP program, EDB aims to further increase the pool R&D expertise for the electronics industry.

To help workers to be more skilled, the Singapore Workforce Development Agency (WDA) has been working with the industry to develop the Generic Manufacturing Skills (GMS) under the Singapore Workforce Skills Qualifications (WSQ) system, as well as sectoral training programs. The intention is to help build up workers’ abilities in problem solving, team work, work safety health and quality assurance.

AAC’s Investment in Singapore

The establishment of AAC Singapore is an excellent growth story in challenging times. It is also testimony to the value that Singapore can provide for internationalizing Chinese companies.

AAC Singapore’s functions will range from sales and marketing, strategic business planning & development, to R&D in Micro-Electro-Mechanical Systems (MEMS). The company will invest over $20 million in R&D activities over the next 5 years. I understand that AAC also plans to make additional investment to set up automated manufacturing lines in the near future. These will create close to 100 skilled or professional jobs. AAC’s presence in Singapore will certainly add to the vibrancy of Singapore’s electronics sector, and provide exciting job opportunities for Singaporeans.

Conclusion

On this note, let me congratulate the management and staff of AAC on the opening of its International Headquarters and R&D center today. It is now my pleasure to declare AAC’s new facility open.

Thank you.

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