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| Investments to create 4,130 new jobs in Singapore's electronics sector
(By Dawn Teo, Channel NewsAsia) SINGAPORE : The Economic Development Board reckons that 4,130 new jobs will be created from the S$4.2 billion committed to Singapore's electronics sector in 2003. Another 2,400 jobs will be created from the S$500 million worth of investments pledged in the precision engineering sector last year. EDB's officers have been talking with electronics giants in the US, EU and Japan, as well as up-and-coming companies in China. They are cautiously optimistic they can attract even more investments into Singapore this year, boosted by the improving global outlook and upswing in the global electronics cycle. "They see the electronics upturn coming. They see their customers' orders coming. They're still cautious because they can't see till the end of this year so they still hedge their bets but they are in active discussions with us on how we can help them meet their growth," said Tan Choon Shian, electronics and precision engineering, EDB. Stiff competition from lower-cost countries has forced Singapore to focus on higher value-added manufacturing activities, so some low-end electronics jobs may be lost as firms shift production out. But some big names have been expanding, with Matsushita Semiconductor and Infineon Technologies among those setting up more sophisticated facilities on Singapore's shores. All this means three-quarters of the jobs that will be created from such investments will require professional and skilled workers. - CNA |
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