10-year plan for Singapore manufacturing to grow 50% by 2030: minister

Trade and Industry Minister Chan Chun Sing during a visit to precision engineering company Univac on Jan 25, 2021. - ST

SINGAPORE (The Straits Times/ANN): A new 10-year plan to grow Singapore's manufacturing sector by 50 per cent and maintain its share of about 20 per cent of gross domestic product (GDP) was announced by Trade and Industry Minister Chan Chun Sing on Monday (Jan 25).

The plan will raise the global competitiveness of the manufacturing sector, but more Singaporeans will have to work in the sector as the proportion of low-wage foreign workers is reduced, Chan said.