Speech at Opening Ceremony of Medtronic’s Pacemaker and Leads Manufacturing Facility
Mr Gan Kim Yong, Minister , 49 Changi South Avenue 2
Mr. Jean-Luc Butel, Executive Vice President and Group President for International Operations, Medtronic,
Mr. Daniel Thompson, Commercial Counselor, U.S. Embassy to Singapore,
Distinguished Guests,
Ladies and Gentlemen,
1. Good morning. It gives me great pleasure to join you today for the opening of Medtronic's new manufacturing facility.
2. Medtronic is the world's largest standalone medical device manufacturer and the market leader for cardiac pacemakers. This S$80 million state-of-the-art facility will be the company's first cardiac device manufacturing facility in Asia. Medtronic is one of a series of international medical technology firms that are expected to set up operations in Singapore over the next three years and creating good job opportunities for Singaporeans. This year alone, the medical technology sector is expected to create more than 400 new skilled jobs for engineers and technicians. Medtronic will hire and train over 100 skilled staff in phases over the next two years, with an emphasis on local talent. These jobs provide Singaporeans with the opportunity to play a key role in manufacturing life-saving products that will impact patients all over the world.
Asia's Leading Site for High Quality Medical Device Manufacturing
3. Medtronic's new facility here represents a strategic investment for the company as it seeks to anticipate future growth opportunities within Asia. Upon its completion in 2011, the facility will be exporting devices mainly to the Asia-Pacific region for use by cardiac patients.
4. Today, Asia is widely recognised as the growth engine for the world, and many companies are now looking to locate key functions and their decision makers close to the fastest growing markets in Asia.
5. Singapore has carved out a niche to meet these needs. We are an ideal nexus between the East and the West, offering proximity to key Asian markets, whilst being familiar with the Western way of doing business. Increasingly, companies are able to leverage our strong government support, stable and pro-business environment to manage not just their Asian operations, but also their global operations from Singapore.
6. Medtronic is a prime example. It has chosen to relocate its International Headquarters to Singapore, alongside the construction of a new manufacturing facility. Singapore will be the central location from which it will manage all of its global operations outside the United States.
7. We are heartened by Medtronic's confidence in Singapore's reputation as a choice location for high quality medical device manufacturing and development in Asia. This is reinforced by our strong intellectual property laws, excellent global connectivity and skilled workforce, making Singapore an attractive base for high quality medical device manufacturing.
Commitment to Nurture a High Quality Workforce
8. Today, capital increasingly flows to where talent resides. Singapore's workforce has consistently been ranked top amongst the world's most competitive nations (BERI). Our high quality workforce is one key reason why Singapore continues to be successful in attracting long-term investments from global MNCs such as Medtronic.
9. The Singapore Government is committed to continue enhancing our manpower capabilities as a key competitive advantage in order to fuel the growth of our economy. Building on our Continuing Education and Training (CET) Masterplan, we have taken steps to prepare our workforce for the upturn with programmes such as the Skills Programme for Upgrading and Resilience (SPUR), the Professional Skills Programme (PSP) and the Economic Development Board's (EDB) PREP-UP
1 scheme. These measures provide our workforce with the opportunity to upgrade and learn new skills in growth sectors such as medical technology, while concurrently helping companies in Singapore to reduce the cost of hiring and training workers.
10. In addition, the Singapore Workforce Development Agency, in collaboration with the Singapore Institute of Manufacturing Technology (SIMTech), has developed the Precision Engineering Workforce Skills Qualifications (PE WSQ) Graduate Diploma in Medical Technology Manufacturing. This programme aims to equip trainees with the latest medical device regulations and manufacturing technology. I am glad to announce that this programme will be launched later this month
2. This is an example of intra-government cooperation between EDB and WDA. While EDB goes out to bring investments here to Singapore, WDA works to ensure that companies like Medtronic would have the right skilled workforce to meet their business needs – in this case, for medical technology workers. The end result is a win-win for both businesses and the Singapore workforce.
11. Our efforts are complemented by industry partnerships for skills development and advance training. In the area of medical technology, the Economic Development Board will continue to partner with leading players such as Medtronic to develop customised overseas training programmes. These programmes will provide Singaporeans with the opportunity to learn cutting-edge technologies and best practices in medical device manufacturing. Trainees would then join a growing pool of talent that will support the growth of our medical technology companies in Singapore.
Conclusion
12. On a final note, I would like to congratulate Medtronic on the opening of your facility. I am confident that Medtronic's new manufacturing facility and International and ASIA Headquarters will mark the start of a long and lasting Medtronic-Singapore partnership. I wish you every success with this new and exciting endeavor.
13. Thank you.
SIMTech Medical Technology Manufacturing Consortium Launch on 13 October 2009