Mr S Iswaran at the 8th International Conference of the Asian Societies of Cosmetic Scientists (ASCS)

SPEECH BY MR S ISWARAN, MINISTER OF STATE FOR TRADE AND INDUSTRY, at the 8th international CONFERENCE of the asian societies of cosmetic scientists (ASCS) on wednesday, 7 march 2007, 9.00am at the singapore suntec CONVENTION CENTRE

Mr Adrian Jacklowsky, President of the Society of Cosmetic Scientists, Singapore,

Dr Alain Khaiat, President of the Cosmetic, Toiletry and Fragrance Association, Singapore,

Distinguished guests,

Ladies and gentlemen,

1.I am pleasedto join you this morning at the annual Asian Societies of Cosmetic Scientists (ASCS) Conference.I understand that this conference is now in its 8th year, and it is a key event in the cosmetics industry that brings together prominent scientists and dermatologists from around the world.I would like to thank the Society for giving Singapore the opportunity to play host to this event for the first time.I extend a warm welcome to all of you, especially our overseas guests and participants. I hope Singapore has exceeded your expectations and that you will return in the near future.

2.The theme for this year’s conference – Delivering Sciences to the Depths of Asian Skins – is interesting on several counts.It emphasises to the industry the significance of science, and the need to understand the new and growing consumer markets such as those in Asia. It is also an area where Singapore can potentially play a useful role.

3.Singapore’s Economic Development Board (EDB) is committed to developing the consumer care industry, of which cosmetics and other personal care products are important segments.The EDB has set itself the goal of building a vibrant consumer care industry, grounded in science and integrated with Asian consumer insights and creativity.Let me share with you how Singapore intends to participate in the growth of this industry.

4.The development will not be from a zero-base.Singapore has been successful in developing knowledge- and innovation-intensive industries such as chemicals and the biomedical sciences.We are confident that the experience and capabilities that we have gained from developing these industries will put us in good stead to expand into the consumer care industry.

Singapore is Committed to Grow the Consumer Care Industry Here

5.We have already seen positive responses from the industry.Singapore has successfully attracted the regional headquarters of many leading consumer care companies such as Procter & Gamble (P&G) and Unilever and their specialty chemicals suppliers.Many of these companies manufacture in Singapore the ingredients that go into some of the world’s best-selling cosmetics and fragrances.This is in addition to the companies having their regional innovation centres here.In fact, P&G recently announced that it will build its new fragrance plant here.

Building a Consumer Care Industry that is Anchored on R&D, Intellectual Property Management & Manufacturing

6.Singapore takes a long-term, strategic view towards the development of the consumer care industry, anchored by a conducive environment for R&D, intellectual property management and complex manufacturing.

7.First, we will strengthen our R&D capabilities by nurturing local talent, attracting global talent, providing resources and support to encourage private sector R&D and strengthening public-private R&D partnership.Under this initiative, the Government has committed about $14 billion over five years to intensify national R&D spending to 3% of GDP by 2010.This will be done in strong collaboration with the private sector.

8.We aim to differentiate our R&D effort through multi-disciplinary integration, from basic to applied sciences, including the areas of formulation and manufacturing technologies.Each of the public research institutes here has a specialised focus and they are coordinated by our Agency for Science, Technology and Research.Our institutes build up critical capabilities in different disciplines, which in turn offer integrated collaborative research opportunities to industries.

9.For instance, in the area of skin research, Singapore hosts the world’s first database of Asian genetic compositions, and one of the world’s largest natural product libraries in bioactive ingredients.Our efforts in stem cell research can possibly be extended to the creation of artificial skin samples for testing.

10.Second, besides developing capabilities to support R&D, Singapore has also endeavoured to maintain our strong intellectual property protection regime.We enhance our IPR regime continuously so that companies can work on proprietary technologies here, trusting that Singapore will protect their innovations, and that our workforce will respect their intellectual property.

11.Third, Singapore has developed substantial capabilities in complex, process intensive manufacturing.Coupled with our efficient logistics network, products manufactured in Singapore can reach all corners of the world competitively.

12.Beyond the sciences, Singapore can also offer insights into consumers’ needs and preferences.We are a highly urbanised society and a microcosm of Asia.Here, you find not only Singaporeans of diverse Asian ethnic origins but also new immigrants, especially from China and India and other regional countries.Singapore can thus be an ideal location to test new technologies, and to assess consumer preferences for new products, before launching them in regional and global markets.

Conclusion

13.I therefore would like to urge you to consider what Singapore can contribute to your company and to your industry.Singapore can be an ideal test-bed for new processes and new products in your industry, and we have the capacity to deliver high quality consistently with competitive pricing.I invite you to share your ideas with the EDB which has a good track record as a solutions provider.

14.In closing, I wish to congratulate the Society of Cosmetic Scientists, Singapore.I understand that this conference would not have been possible without the hard work, vision, dedication and commitment of the Society and its organising committee.May I wish all of you a very fruitful conference.

15.Thank you.