‘Industrial park of the future’ to be created: Finance Minister
The Jurong Innovation District will create an environment to house activities such as learning, research, innovation and production within a single, next-generation industrial district, Mr Heng Swee Keat says.
An “industrial park of the future”, the Jurong Innovation District, will be developed, and is touted to be the “future of innovation for enterprise, learning and living”.
Finance Minister Heng Swee Keat announced this in his Budget statement on Thursday (Mar 24), and described the space as “an open and innovative urban environment”. The first phase of the District is targeted for completion around 2022, he added.
“Fifty years ago, we transformed Jurong from swampland into a thriving hub for the manufacturing industry that powered Singapore’s economic growth. Now, we will make another leap to create the industrial park of the future,” he said.
The Minister noted that Singapore’s earlier industrial estates were developed for specific industries focused mostly on production. Today, however, learning, research, innovation and production are closely intertwined, he said.
The Jurong Innovation District will create an environment to house activities such as learning, research, innovation and production within a single, next-generation industrial district. “This has the potential to transform how we live, work, play, learn and create,” he said.
JTC is currently constructing Launchpad @ JID to serve as a space for entrepreneurs, researchers and students to design, prototype and test-bed their new innovations, Mr Heng said.
Nanyang Technological University will be integrated within the district, bridged by an open plaza to create an open learning environment, the Finance Minister added.
It also launched an open innovation call to invite technology owners to test-bed and develop innovative and sustainable infrastructure within the District, he added.