The perfect ecosystem

Singapore Economic Development Board's executive director for transport engineering, Lim Kok Kiang explains how it's helping to promote the country's offering to businesses interested in expanding into Asia. Asia is leading the growth of the aviation sector. Asia-Pacific's fleet size is anticipated to triple from 4,410 in 2010 to 13,480 in 2030. Over this same period, Asia-Pacific is expected to account for 11,450 – over a third – of all new aircraft deliveries worldwide. These new deliveries to Asia-Pacific are valued at some £1 billion, almost as much as Europe and North America combined. Asia's growth is clearly manifested in Singapore, where the aerospace industry has been growing in leaps and bounds. Since the 1990s, Singapore's aerospace industry has registered a compounded annual growth rate of over 10%. Last year, it achieved a record output of more than £4 billion, and employed over 19,000 people.  Aerospace is a key growth industry for Singapore, and the Singapore Economic Development Board (EDB) takes the lead, working closely with government ministries and other agencies, to create the best possible environment in Singapore for international aerospace businesses to thrive and capitalise on the enormous potential of the Asian market. We actively develop infrastructure, build capabilities and promote services to provide holistic support to the aerospace industry. Our corporate tax rate, which is one of the most competitive in the world at 17%, is also a consideration in companies' decision to locate here. The 320 hectare Seletar Aerospace Park is a physical testament of our commitment to grow the aerospace industry. Established in 2007, the Park hosts an ecosystem of mutually supporting aerospace activities from manufacturing to MRO, R&D and training, all in one location. It's a place where small, medium and large businesses can co-exist and everyone can take advantage of an infrastructure that's been made-to-measure for the aerospace industry. Some of the biggest names in aerospace have established significant operations at Seletar Aerospace Park. These include Bell Helicopter and Cessna Aircraft, EADS-Innovation Works, Eurocopter, Hawker Pacific and Fokker Services. Just this February, Rolls-Royce opened its Seletar Campus, the Group's largest facility in Asia. This is Rolls-Royce's first outside the United Kingdom to assemble large commercial aero engines and manufacture its proprietary hollow titanium wide chord fan blades. Singapore's strategic location as a gateway to Asia, availability of a highly-skilled workforce, and active support of the government were cited by Rolls-Royce as key reasons behind its investment decision. Our compelling business environment also encouraged leading names such as Bombardier, Meggitt, and Pratt & Whitney to announce new investments at Seletar Aerospace Park during the recent Singapore Airshow 2012. Above all, the EDB strives to address what truly matters to industry and to meet the respective needs of each company. We recognise that every business is unique, and we will continue to dream, design and deliver tailored solutions that create value for businesses in Asia. www.edb.gov.sg

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