Mr S Iswaran at the Sony's Announcement of its Advanced Lithium Ion Polymer Battery Production

SPEECH BY MR S ISWARAN,MINISTER OF STATE FOR TRADE AND INDUSTRY, AT SONY'S ANNOUNCEMENT OF ITS ADVANCED LITHIUM ION POLYMER BATTERY PRODUCTION, 14 AUGUST 2007, 11.00 AM AT THE HIBISCUS ROOM, SHANGRI-LA

Mr Yutaka Nakagawa, Executive Deputy President, Sony Corporation

Mr Tetsuro Shibasaki, Managing Director, Sony Electronic Singapore

Distinguished Guests, Ladies and Gentlemen

I am pleased to join you this morning for the announcement of Sony’s new lithium ion polymer battery production in Singapore. The lithium ion polymer battery is an important innovation in response to the demand for mobile power supply units in portable electronic gadgets.Amidst the proliferation and sophistication of portable electronic gadgets, electronics companies have designed creative solutions for miniature batteries that are safe and reliable while generating a sufficient amount of energy for prolonged use.

Sony continues to be a global leader in the field after developing the first commercial lithium ion battery in 1990. We are, therefore, pleased that Sony has chosen Singapore to manufacture this innovative and complex product. I understand that the production facility will be highly automated and incorporate some of Sony’s most advanced technologies. It is also Sony’s first such plant in South East Asia.I am pleased that Singapore is able to play a material role in your overall global plan.

Indeed, one of Singapore’s key value propositions is as a choice location that provides a ready pool of scientists, engineers and technicians, who are experienced in complex manufacturing and can participate in the design and development of innovative solutions. In addition, two key pillars of Singapore’s economic growth formula are Trust and Knowledge, which provide the basis for long term competitiveness as we continue our foray into the batteries industry and other knowledge intensive sectors.

Trust is at the core of the Singapore brand which stands for trustworthiness, integrity, reliability, quality, productivity, and respect for intellectual property.This is what attracts many companies to our shores bringing with them their latest technologies to build state-of-the-art capabilities.Today’s announcement bears testimony to the trust that Sony has in Singapore. By providing high standards of intellectual property protection and quality control, a skilled workforce with strong engineering capabilities, a reliable and efficient connection to the global supply chain network and political stability, I am confident that Singapore will help Sony’s latest investment here yield tangible returns quickly.

Knowledge is the foundation of creative and innovative enterprise, which is a key focus of Singapore’s economic strategy.Our aim is to offer an environment that is conducive to knowledge intensive industries.Sony’s selection of Singapore for its advanced lithium ion battery production is a welcome affirmation of this effort.As we strengthen our R & D infrastructure and manpower.Singapore is poised to meet Sony’s needs now and in the further development of its line of batteries.

Today, Sony has reached another milestone in your presence in Singapore. Our relationship with you began some 24 years ago, in 1973, with a sales and marketing operation.I am pleased to see that Sony’s expansion since then has spanned the entire value chain of activities, from a regional headquarters function and manufacturing operations, to distribution and R&D.

Sony’s decision to establish the lithium ion polymer battery production here is yet another vote of confidence in Singapore.We wish you every success in this new operation and look forward to a long and fruitful collaboration between Sony and Singapore.

Thank you.