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Singapore to seek success in space industry

Posted: Mar. 4th, 2013  |  By Michael Pearse
Stars and dust
NASA

Singapore sure is doing everything it can to get to space. Singapore has lifted a decades old ban on casinos to improve its economy. They have also promoted industries such as pharmaceutical manufacturing, biotechnology research and wealth management to reduce the economy’s reliance on electronics exports.

Singapore, which is planning to send a citizen into space in 2015, said it hopes its foray into space technology will become as important a growth driver as its biomedical industry.

The country can leverage its electronics sector to help develop a satellite industry, Ow Foong Pheng, permanent secretary at the Ministry of Trade and Industry, told reporters today. The biomedical industry overtook electronics last year as the biggest contributor to manufacturing, a government report today showed.

Singapore has lifted a decades-old ban on casinos and promoted industries such as pharmaceutical manufacturing, biotechnology research and wealth management to reduce the economy’s reliance on electronics exports.

Read More on bloomberg.com

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