It says industry faces challenges, and new Budget should boost global competitiveness

The manufacturing sector is at a "significant turning point", and Budget 2025 should help enhance Singapore's competitiveness in the global arena.

- Angela Tan

Singapore Manufacturing Federation (SMF) president Lennon Tan said the sector faces many challenges, including increased global pressures, and needs to adapt.

SMF's wish list for Budget 2025 - scheduled for Feb 18 - is built on four strategic pillars: sustainability, human capital, internationalisation and productivity. The wish list is focused on six critical priorities:

• Accelerating the green transition

• Enhancing workforce development in emerging technologies

• Supporting internationalisation and trade resilience

• Facilitating the shift to Industry 5.0

• Improving small and medium-sized enterprises' (SMEs) access to capital

• Boosting collaboration between SMEs and multinational corporations (MNCs)

SMF has represented the interests of manufacturing and related industries here since 1932. It has about 5,000 corporate members, including SMEs and MNCs.

In its survey conducted in November 2024, 91 per cent of manufacturers said sustainability initiatives were important for global competitiveness. About 88 per cent stressed the critical need for workforce upskilling in emerging technologies like artificial intelligence (AI) and robotics.