The environmental market in Southeast Asia alone is estimated to hit US$50 billion by the year 2010. Singapore has placed great emphasis in developing the clean technology sector which includes the fields of Clean Energy, the Environment and Water. A holistic blueprint is already in place to grow the Clean Energy industry with US$234 million of public funds. Its initiatives include the US$33 million Clean Energy Research Program (CERP) set up to support R&D efforts as well as a US$17 million graduate scholarship program to groom top-notch talent for the industry.
The water industry has also been identified as a key growth sector for Singapore’s economy. The industry is one in which Singapore has a strong interest, given its national emphasis on water management. An additional US$220 million has been committed to develop R&D and manpower capabilities with the aim of positioning Singapore as a Global Hydrohub – an international center to develop and provide water technologies and solutions. The water industry is expected to triple its value-added to the Singapore economy to US$1.1 billion by 2015.
Water technologies also offer great opportunities in Singapore. The water industry in Singapore is becoming more liberalized. The national water agency, the Public Utilities Board (PUB), has opened to private companies that want to test-bed projects using its infrastructure. PUB also gives out contracts to private companies to build, design and operate water plants. U.S. companies are encouraged to participate in future contracts offered by the PUB. American equipment manufacturers could also supply their equipment to the successful prime contractors of PUB projects. Areas of particular interest include filtering and purifying machinery and apparatus, technologies involving wastewater recycling and treatment, and modular wastewater treatment systems.
The environmental market in Southeast Asia alone is estimated to hit US$50 billion by the year 2010. Singapore is also building critical mass in the areas of waste management and recycling. In Singapore, an estimated 760,000 tons of solid waste is generated daily. With only one land-fill site at Pulau Semakau, there is an increased need to look beyond incineration and reduce its reliance on landfilling as a key means of managing waste. As such, waste management is one business growth area where Singapore requires good solutions, and where Singapore can serve as a working model and a test bed for new ideas.