Singaporean water industry reports strong growth

Hanoi (VNA) - Singapore’s water industry has annually contributed 2.5 billion SGD (1.84 billion USD) to the country’s economy and created 14,400 jobs to date, putting it on track to meet its 2020 targets. 

According to the latest figures from Singapore's national water agency the Public Utilities Board (PUB) , the Economic Development Board (EDB), and Enterprise Singapore show that since 2016, the sector has provided 400 jobs and contributed 300 million SGD (221.3 million USD) to the national economy annually.

Speaking at the Singapore International Water Week held from July 8-12 in the framework of the World Cities Summit, Singaporean Deputy Prime Minister Tharman Shanmugaratnam stressed that this growth is important amid the growing risks from poorly managed urbanisation, climate change, and infectious disease threats in developing countries and across the globe.

Singapore is willing to share experience with regional countries in effectively managing and using the water resources, contributing to protecting the environment and ensuring sustainable growth, he said.

Singapore’s water management agencies will focus on three areas: developing global solutions, accelerating the commercialisation and export of technologies, and supporting the shift of business models in smaller enterprises, he added.

He said, to accelerate commercialisation and the export of technologies, PUB’s Singapore Water Exchange, which is set to begin operations later this year, will build an ecosystem of companies along the water value chain, allowing them to work together and tap into their mutual strengths to push water innovation and business growth.

Additionally, Enterprise Singapore is working with water technology small- and medium-sized enterprises to transform their business models and improve their productivity, turning them into firms of higher value.
With over 200 water companies and more than 25 research institutes, Singapore’s water industry continues to attract both domestic and foreign investment.

The sector is expected to generate 15,000 jobs and contribute 2.85 billion SGD (2.1 billion USD) to Singapore’s economy annually by 2020.-VNA