Singapore's precision engineering services industry is one of the key mechanism of the country's manufacturing sector, and the government is launching new programs to help the industry to develop. Precision engineering is a serious module in a broad series of industries, including electronics and offshore and marine. But the sector has been strike by reducing factory orders and increasing cost pressures amid the current recession.
To help firms handle, the Singapore Institute of Manufacturing Technology (SIMTech), A*STAR and the Workforce Development Agency (WDA) are jointly launching two consortia through the Precision Engineering Centre to help move local precision engineering company up the value chain.
Some S$6 million will also be spent by the WDA over the next two years on graduate diploma programmes to groom more than 400 professionals.
"The only way ahead is to develop our firms' capability in innovation, their use of technology and design, and to equip our workers with the right skills to handle more sophisticated machinery and processes," said Lee Yi Shyan, Minister of State for Trade & Industry, and Manpower.
The two consortia will focus on high-mix, low-volume manufacturing, and precision measurements & characterisation, and comprise 13 companies which will develop effectiveness boosting software and high speed manufacturing.
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