12 Aug '11, 2pm

(CNA|sg) PE: Phasing out manufacturing would be "grave mistake", says Tony Tan

SINGAPORE: Presidential hopeful Tony Tan said it would be a "grave mistake" to phase out manufacturing in Singapore. He described manufacturing as a key pillar of Singapore's economy as it complements the services industry, generates skills, and diversifies the markets. He said: "I think it would be a grave mistake to try and phase manufacturing out. We will suffer for it. Our economy will be less resilient, less diversified. There will be fewer options for our young people and Singapore will lose." Dr Tan was speaking to reporters after a dialogue with 100 members of the Singapore Manufacturers' Federation. He said he had requested for the briefing as part of his outreach efforts during his presidential campaign. Federation president George Huang said he and his members were impressed with Dr Tan's knowledge and understanding of the manufacturing industry and the economy,...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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