Speech by Minister-in-charge of Energy and Science & Technology in the Ministry of Trade and Industry Dr Tan See Leng at the Official Opening of Geneo

Mr Wong Kan Seng, Chairman, CapitaLand Group,

Mr Jonathan Yap, CEO, CapitaLand Development,

Ladies and gentlemen,

Introduction

1.      Good morning. Thank you for inviting me to join you at the official opening of Geneo. 

2.      Since the 1980s, Singapore Science Park has been an integral part of Singapore's innovation story. 

a.      Its high-quality infrastructure and proximity to institutes of higher learning have provided excellent conditions for Research and Development (R&D). 

b.      This has attracted a deep bench of global companies such as Illumina, MSD, Dyson, as well as home-grown champions like Shopee. 

3.      Today, we mark the next chapter of that story. 

a.      Geneo represents a significant $1.4 billion investment in Singapore’s R&D and innovation capabilities, focusing on the biomedical sciences. 

b.      It also reflects our continued commitment to position Singapore as a leading hub for research, innovation and enterprise. 

R&D as a Key Growth Driver for Singapore's Economy

4.      R&D is, and will continue to be, a key pillar of Singapore's economic strategy. 

a.      Singapore, being small and resource-constrained, cannot compete on scale alone. 

b.      Our competitiveness must come from innovation, technology, and creating higher-value products and solutions. 

5.      Investments in R&D have enabled Singapore to move up the value chain, and create good jobs and opportunities for Singaporeans. 

a.      From 2004 to 2023, total annual business expenditure on R&D more than tripled, from $2.6 billion to $9 billion. 

b.      In the same period, private sector R&D jobs nearly doubled, from 17,000 in 2004 to 30,000 in 2023, with locals filling more than 70% of these roles. 

6.      The biomedical sciences industry has benefitted from this R&D growth. 

a.      Over the past two decades, Singapore has become a leading global hub for biopharmaceutical and medical technology manufacturing, with industry output approximately doubling to exceed $32 billion in 2024. 

7.      Our focus on R&D has also benefitted patients and society. 

8.      One of the main tenants in Geneo, Chugai Pharmabody Research (CPR), illustrates this. 

a.      Established in 2012 as the Singapore research arm of Japan’s top biopharmaceutical company, Chugai Pharmaceutical, CPR developed a next‑generation anti‑C5 antibody for a rare, life‑threatening blood disorder, which has achieved regulatory approval in major global markets. 

b.      CPR has also worked closely with the Agency for Science, Technology and Research (A*STAR) to develop a therapeutic anti‑dengue virus antibody that is now advancing into clinical development. 

c.       This is precisely the kind of translational research Singapore seeks to enable – where discoveries move from the laboratory to clinical development, and ultimately to patients. 

9.      To sustain this momentum, we must continue investing for the future. 

a.      Singapore has therefore committed to invest $37 billion in research, innovation and enterprise over the next five years, including supporting the next bound of biomedical sciences R&D and innovation.

Renewal of A*STAR’s Biomedical Sciences Research Infrastructure

10.  However, investment alone is not enough. Our R&D ecosystem must continue to evolve. 

a.      At Budget 2025, Prime Minister Lawrence Wong announced that we would extend A*STAR's biomedical sciences research infrastructure into the Greater One-North area. 

11.  Today, I am pleased to share that A*STAR will establish biomedical research facilities here in Geneo. 

a.      A*STAR will build on its strong foundation in Biopolis, while continuing to be situated close to key partners in the Greater One-North area. 

b.      This includes clinical institutions, JTC's LaunchPad @ One-North, as well as the upcoming Kampong AI. 

c.       Such proximity brings the research, medical, and business communities together, accelerating inter-disciplinary collaboration and the translation of research into real-world solutions. 

12.  A*STAR will be joined at Geneo by leading biomedical sciences firms, including Chugai Pharmabody Research and NSG Bio. 

a.      This is testament to the Greater One-North ecosystem’s attractiveness as a research and innovation hub.

Developing Strategic Partnerships

13.  This robust innovation ecosystem is built through strong partnerships. 

a.      The Government can invest in R&D, but we also need credible private sector partners who can deliver the right infrastructure and tenant mix. 

b.      CapitaLand is such a partner. You have demonstrated the ability to deliver quality infrastructure and attract good tenants, supporting Singapore’s R&D needs into the future.

Conclusion

14.  I have every confidence Geneo will grow into a vibrant hub for research, innovation and enterprise, strengthening Singapore's position as a global node for science, technology, and innovation. 

15.  I congratulate CapitaLand once again on this significant milestone, and wish Geneo every success. 

16.  Thank you.