How is Singapore Navigating the New Industrial Revolution.? - Letsdiskuss
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sushil seo

digital marketing | Posted 19 Nov, 2018 |

How is Singapore Navigating the New Industrial Revolution.?

Preeti Taneja

Entrepreneur | Posted 21 Nov, 2018

First, let’s get this off the hook: Singapore isn’t navigating the new Industrial Revolution. A country with a GDP growth of 3.6 percent (in 2017) and a population of less than 6 million – excuse my political incorrectness – cannot possibly navigate the global industrial ecosystem that’s dominated by China, USA, and the UK.

(Courtesy: Business Times)

Indeed, though, Singapore is one of the nations who is playing a critical role in shaping Industry 4.0. Be it with its manufacturing power, the structure of production, or technological advancement—Singapore definitely trades much (much) better than so many “top” countries, including India. In recent times, the infrastructure development in the country – which aligns well the socio-environmental guidelines (or at least better than other countries) – has paced to newer heights. And it has positioned Singapore at par, if not above, with the likes of South Korea, Japan, Canada, and Germany.

(Courtesy: Strait Times)

Again, one of the biggest keys for Singapore is its tech-capability, which is ranked among the best ones globally. The country is technologically advanced, which gives it an agility in data management, data exchange, and automation. This cascades to empower its production capacity and other economic factors. 

But all being said, on the global front where numbers and indexes reins, Singapore is still placed beyond many other countries on important lists, including fast-growing economies. And this plays in its disfavor to the role that it can play in progressing the industrial revolution of the world.