More US, Chinese biomedical firms setting up shop in Singapore amid trade uncertainties
Biomedical players are seeing a surge in US and Chinese firms setting up shop in Singapore, with some even reporting a 50% jump. They said rising trade tensions have led to Singapore emerging as a safe haven for innovation, along with strong intellectual property protections. The biomedical services industry makes up 2.6% of Singapore's GDP. It's considered a key contributor to the economy. It also makes around S$38 billion worth of products to be exported to global markets like the US and China. Nasyrah Rohim reports.
Biomedical players are seeing a surge in US and Chinese firms setting up shop in Singapore, with some even reporting a 50% jump. They said rising trade tensions have led to Singapore emerging as a safe haven for innovation, along with strong intellectual property protections. The biomedical services industry makes up 2.6% of Singapore's GDP. It's considered a key contributor to the economy. It also makes around S$38 billion worth of products to be exported to global markets like the US and China. Nasyrah Rohim reports.
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