Hannover, Germany: New agreements were inked on 24 April 2018 to boost cross-country partnerships and cooperative innovation between German and Singapore companies. This move is set to enhance Singapore’s manufacturing sector.
The agreement was established at the biennial Germany-Singapore Business Forum (GSBF) 2018, held at Hannover Messe—world’s largest industrial technology trade fair, where many memorandums of understanding were signed.
“Like Germany, Singapore places great emphasis on innovation. Our complementary strengths make it meaningful for German and Singaporean enterprises to be innovation partners and build deeper technical capabilities,” said S. Iswaran, Singapore’s Minister for Trade and Industry.
Enterprise Singapore (ESG) signed an MOU with the German Accelerator—which helps high-potential German start-ups to enter Southeast Asia through acceleration programmes. This MOU is expected to boost market access for both country’s start-ups, while promoting Singapore as a regional launchpad for German start-ups.
Two other partnerships were announced on that day.
To collaborate on integrating Industry 4.0 technologies and microtechnology, Singapore Precision Engineering and Technology Association partners with German industry association IVAM Fachverband Fur Mikrotechnik.
A third MOU was by Composite Cluster Singapore, Sakura Tech and Germany’s Covestro and Hufschmied to establish a Composite Application Centre in Singapore. The CAC will work with international leaders in composites research, providing a platform for companies to leverage latest technologies and solutions.
Advanced manufacturing, or Industry 4.0, merges machines and digital technologies like data analytics and artificial intelligence, creating the “smart factory”—a key driver of Singapore’s future economic growth.