SINGAPORE - The medical technology sector will feature prominently in Singapore's next lap of growth, with a new industry-led coalition set up to lead the charge.
"Healthcare manufacturing commands a premium because safety is big," he added."You cannot be exporting healthcare products without very high exacting standards; people won't buy otherwise." The task force also unveiled six new members it had appointed recently, raising its membership to 23. "We are just now starting to consolidate the possibilities within the top two or three markets," said task force co-chair Tan Chong Meng, who is PSA International's group chief executive. The aim, he added, is to be successful in a few markets before scaling up the business.
Singapore has all the capabilities needed to rapidly respond in this field, from homegrown test kits to a responsive regulatory authority, he added.