Environmental industry in Singapore

business-times.asia1.com.sg :

Singapore has her own water related marvels, the chief of these may be NEWater - used water purified to drinking quality - others may cite the rapid ascension of Singapore-based Hyflux as a global water player. But water makes up only 40% of the global environmental industry, which is worth more than US$600 billion (S$1 trillion) and Singapore wants to be a part of it all. In its State of the Environment 2005 Report, the National Environment Agency states that there are more than 250 environmental companies operating in six main sectors: waste management and recycling, energy services, pollution control, pest management, cleansing services and, water and used water treatment.

The alternative energy industry could jockey for a place beside the crucial oil trade. Last November, the Minister for the Environment and Water Resources, Yaacob Ibrahim, said: 'As photovoltaics become less expensive and oil prices continue to rise, the 'sunbelt' countries along the Equator would be among the first to adopt photovoltaic electricity on a commercial basis, and Singapore is well-postioned to serve these markets.'

Going forward, the EDB plans for the environmental sector to contribute about 1.5% of GDP by 2015. It said that in 2003, the industry contributed 0.6% to GDP, or about S$1 billion in value-added, and hired about 20,000 workers.

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