10 Jan '12, 6am

Aerospace sector has grown despite volatile economy: Lui Tuck Yew

Aerospace sector has grown despite volatile economy: Lui Tuck Yew

SINGAPORE: Despite the volatile economy, the aerospace industry in Singapore has enjoyed healthy growth, said Singapore Transport Minister Lui Tuck Yew. Speaking at an event to commission the new control tower at the Seletar Aerospace Park on Tuesday, Mr Lui said the industry has grown by about 12 per cent on average each year over the past two decades. In 2010, it reached a record output of S$7.2 billion and employed about 18,000 workers. Currently, there are more than 100 leading global and local aerospace companies operating in Singapore, many of which haven chosen to anchor their operations at the Seletar Aerospace Park (SAP). Mr Lui said the SAP development will help to position Singapore as an aviation hub and to capitalise on the aviation growth opportunities in the region. He added that the Seletar airport will continue in its transformation to further support busi...

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

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