Singapore (VNA) – Singapore’s electronics industry - particularly semiconductors - has outperformed other segments of the economy amid the coronavirus-induced recession and will remain a major source of employment, Minister of Trade and Industry Chan Chun Sing said at a recent press conference.

The industry as a whole reaped 5.7 billion SGD (4.2 billion USD) in fixed assets investment in the first nine months of the year and recorded 376 million SGD in total business expenditure.

Chan said that these investments will create about 1,100 jobs when they are fully realised over the next three to five years, and come on top of the opportunities already created by the industry so far this year.

Around 130 electronics companies have offered more than 2,800 employment opportunities since April - 1,880 jobs, with the rest comprising attachments and training slots, the Ministry of Trade and Industry noted. Almost all of the jobs were for professionals, managers, executives and technicians, it said.

The industry has seen its contribution to gross domestic product (GDP) surge from less than 1 percent in 1990 to 6.9 percent last year.

The electronics industry as a whole employs 70,500 workers in semiconductors, consumer electronics and information technology, and accounted for about 39 percent of Singapore's manufacturing GDP last year.

The semiconductor industry alone lifted output 1.7 per cent year on year in the first half of this year, even as the overall economy suffered its worst-ever recession./.