SINGAPORE companies are expected to add 10,000 new jobs by 2010. They will also generate some $1.4 billion in value add and $3.4 billion to the economy.

The figures were announced by the Trade and Industry Minister, Lim Hng Kiang, when he gave an update on the government's Local Enterprise and Association Development (Lead) programme on Wednesday.

Speaking at a Lead forum at a local hotel, he said that since the launch of Lead two years ago, 15 proposals from 16 industry associations had been approved.

'Together, the government and the associations have committed some $78 million over a three-year period to put in place initiatives that will enhance business infrastructure and strengthen industry competitiveness.'

He said many of the associations had also taken the bold step to embark on market development projects to create greater visibility of Singapore industries and enterprises in the global markets.

Mr Lim noted that most associations were progressing well with their Lead implementation.

For example, the Singapore Furniture Industries Council (SFIC) was making headway in realising its vision of positioning the Republic as a premier furniture hub by leading local companies to prestigious international furniture fairs in Europe, Middle East and the USA.

'Our Singapore furniture manufacturers have ventured overseas and they now have a commercial presence in more than 16 countries,' he said.

'SFIC's International Furniture Centre at Sungei Kadut will also be officially opened this November and it has so far secured more than 90 per cent in terms of occupancy.'

The minister said the Centre and other initiatives such as the Furniture Design Award and Design Entrepreneur Development Programme were expected to contribute $250 million in value-add and create 300 jobs in areas such as marketing, desgin and development by 2009.

Five more applicants were successful in their applications to join the lead programme. They are the Association of Singapore Marine Industries, the Singapore Logistics Association, the Singapore Contractors' Association Limited, the Singapore Industrial Automation Association and the Sustainable Energy Association of Singapore.

Mr Lim said: 'These five associations are expected to generate $356 million in combined value-add and create a total of more than 4,000 jobs as well as a projected $368 million in overseas turnover over the next three years.'

Is this article useful to you?