Mr Lim Hng Kiang at the Fusionopolis Phase 2B Groundbreaking Ceremony

SPEECH BY GUEST-OF-HONOUR, MR LIM HNG KIANG, MINISTER FOR TRADE AND INDUSTRY AT THE FUSIONOPOLIS PHASE 2B GROUNDBREAKING CEREMONY, 27 JUNE 2008

Friends, Ladies and Gentlemen

Good afternoon.

I am happy to join you for the groundbreaking of Fusionopolis Phase 2B, or “Solaris”, at one-north today.

Evolution of one-north

But one-north is more than just Biopolis.Within one-north, more clusters or exchanges are being developed to promote R&D in other strategic industries.Fusionopolis is the next and upcoming cluster.It is envisioned to be a home for the Infocommunications Technology, Media, Sciences and Engineering industries; it seeks to be for these sectors what Biopolis is for biomedical research.Fusionopolis Phase 1 is scheduled to open in October this year.Phase 2B that we are ground-breaking today is due to be ready in 2010, while the larger Phase 2A will follow in 2011.Phases 3 and 4 of Fusionopolis totaling about 50,000 sqm GFA are in the pipeline and would be ready by 2013, subject to demand. The Fusionopolis cluster will set the stage for the co-location of public and private sector research labs, which will develop new technologies and inventions for tomorrow.

More knowledge workers and companies will be drawn to one-north as more of the exchanges are developed. One-north is on track to be a vibrant eco-system where world class talents, scientists, researchers and entrepreneurs will gravitate, exchange ideas and create economic value.

In fact, it seems only recently when I was here for the groundbreaking of Fusionopolis Phase 2A in December 2006. It is heartening to be here again, over such a short span of time, for the groundbreaking ceremony for Phase 2B. It reflects the rapid pace of growth and strong market interest in the potential of Fusionopolis. With Fusionopolis Phase 1 and 2A attaining full occupancy even before their official completion, I am confident that Solaris will receive similarly strong interest from industry players.

Private Sector Partnership

The selection of Soilbuild in the design, construction and ownership of Fusionopolis 2B is an example of JTC’s private sector participation drive.Since 2003, JTC had successfully awarded over 50 projects worth a total of about $1.8 billion to the private sector.In line with this focus to encourage more private sector participation in industrial and business park development, JTC will continue to engage and tap on private developers’ ideas and creativity.

Conclusion

As we groundbreak Solaris today, I look forward to the success of Fusionopolis as Singapore’s cluster for infocomms, media, physical sciences and engineering.The Fusionopolis cluster, together with the other developments in one-north, will help to anchor high value economic activities and contribute to the development of Singapore as a knowledge-intensive economy.

Thank you.