25 Apr '11, 8am

Hard to imagine economy without manufacturing sector: Lee Yi Shyan: SINGAPORE: Minister of State for Trade & Ind...

SINGAPORE: Minister of State for Trade & Industry and Manpower, Lee Yi Shyan said an economy without manufacturing would be difficult to imagine. Mr Lee said that there is a lot of economic spin off from the manufacturing sector and it was this sector that helped to pull Singapore out of the last recession. He said: "We can't imagine an economy that is totally service oriented, and also our immediate hinterland would not require so much services from Singapore. If Singapore were located elsewhere then maybe our service sectors, our consulting firms, accounting firms, our legal firms can practice in a wider region. "But the reality is that there is limited market reach of service companies, so we always need the manufacturing that can help us connect the world. In fact, if you look at the last recovery since financial crisis, the reason we can spring back so quickly, one of...

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

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