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Singapore increases investment in space industry

Jonathan Hung, executive director of OSTIn said while Singapore’s space industry is still at an early stage of development, global trends mean new opportunities that countries such as Singapore are well-positioned to tap.

Singapore (VNA) - Singapore’s Office for Space Technology & Industry (OSTIn) on February 26 announced that the country is putting another 60 million SDG (44.8 million USD) towards developing satellite technology, among other space industry moves – including a regional satellite imaging project.

Jonathan Hung, executive director of OSTIn said while Singapore’s space industry is still at an early stage of development, global trends mean new opportunities that countries such as Singapore are well-positioned to tap.

Singapore aspires to become one of active contributors to the global space ecosystem, he stated.

The funds, to be invested in the existing Space Technology Development Programme (STDP), will also be used to improve the capabilities of Singapore’s research and learning institutions and bolster the commercialisation of their research.

Funding for projects will take place during 2025 to 2027, although the execution of these projects could take four to five years.

This follows the first 150 million SDG tranche of STDP funding for 2021 to 2025, which has ended.

STDP was started to help develop space-related capabilities to support the aviation, maritime and sustainability sectors, as well as technologies to help Singapore’s competitiveness in the area./.

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