Singapore To Invest $100 Million For Aviation Development Fund
Speech by Mr. Raymond Lim, Minister for Transport and Second Minister for Foreign Affairs, at the Inaugural Aviation Community Reception Friday 29 January 2010, Singapore Aviation Academy.
Mr Lee Hsien Yang, Chairman of the Civil Aviation Authority of Singapore,
Distinguished Guests,
Ladies and Gentlemen,
I am happy to be here today, to join our partners in the aviation community in this inaugural Aviation Community Reception.
2009 has been a challenging year for aviation. However, Singapore’s aviation industry has faced the downturn with resilience and conviction. Singapore continued to see major new projects in the aviation industry. These include Rolls-Royce’s investment in a wide chord fan blade plant, Eurocopter’s groundbreaking of its new facility at Seletar Aerospace Park, as well as the first Aerospace Supplier eXchange organized by the Association of Aerospace Industries (Singapore).
Singapore Airport Terminal Services (SATS) will launch Coolport@Changi, Singapore’s first airport perishables handling centre this year. SIA Engineering will open a new hangar next week that can accommodate the A380 aircraft. These initiatives will equip our companies with new capabilities to attract more business and compete better in the global market.
Following the corporatisation of Changi Airport last July, CAAS has been restructured with a new mission and vision. A key focus of the restructured CAAS is enabling the development and promotion of the aviation industry in Singapore. Aviation is a key contributor to Singapore’s success. By enabling opportunities through aviation, CAAS endeavours to help companies, organisations and individuals to realise their aspirations and goals in Singapore’s dynamic aviation sector.
In this regard, I am glad to note that CAAS will be entering into three memorandums of understanding this evening. The MOUs with the Association of Aerospace Industries (Singapore) and the Singapore Institute of Aerospace Engineers will provide for joint efforts to build the aviation cluster in Singapore. Through these MOUs, CAAS and its industry partners will develop and build a world-class manpower and talent base for the Singapore aviation industry, and grow Singapore as a global aviation hub.
The other MOU – the e-freight@Singapore MOU – marks a significant step forward for the air cargo and logistics industry. This partnership between CAAS, IDA, the local industry associations and IATA aims to raise the capabilities of the sector. e-freight@Singapore will improve operational efficiency and achieve cost savings through the use and adoption of information technology, giving our air cargo and logistics sector a strategic competitive edge.
These initiatives symbolise the strong partnership between the Government and industry to strengthen the competitiveness of the Singapore aviation cluster. To support the further growth of the aviation sector, I am pleased to announce that CAAS will be setting up an Aviation Development Fund, with a budget of $100 million over the next five years. This fund will support our industry development goals through a set of incentives built around the three thrusts of enabling enterprise, ideas and people. The fund will also support broader industry–wide initiatives to raise overall effectiveness and competitiveness.
Under the Aviation Development Fund, CAAS will develop relevant incentive programmes to address the needs of the Singapore aviation industry. I am pleased to note that two such programmes will be launched in April this year. The first programme, the Aviation Partnership Programme, will allow CAAS to partner the industry to drive the adoption of new industry-wide standards and processes. Initiatives will be jointly identified by CAAS and the industry to enable enterprises in Singapore to enhance their productivity and competitiveness.
The second programme, the Aviation Innovation Programme, will assist companies to develop new capabilities in the industry by enabling ideas and supporting innovation and R&D. The programme will also help build aviation knowledge and research capabilities in Singapore and support the entry of companies into the aviation sector.
CAAS will be committing $25 million from the Aviation Development Fund to each of the two programmes for the next five years. Details of these programmes will be announced in due course.
Concluding Remarks
In closing, I commend CAAS for its initiative in organising this reception for the aviation community. This reception is timely as it will add to the buzz in Singapore’s aviation scene with the Singapore Airshow just round the corner. The Airshow represents the best that aviation can offer. From the exhibition floor to the various conferences and seminars like the Aviation Leadership Summit being held next week, the gathering of top leaders and captains across the spectrum of government, industry and non-government entities will provide a vibrant and dynamic platform for the participants.
I wish all of you a successful and rewarding Airshow, and an enjoyable evening at this reception.
Topics: Aerospace Supplier eXchange, air planes, air travel, airport, airport perishables handling centre, Asia, Association of Aerospace Industries, aviation, Aviation Development Fund, aviation industry, Changi Airport, civil aviation, Coolport@Changi, e-freight@Singapore, economic development, economic growth, Economy, employment, Eurocopter, flying, Governance, government, IDA, Inaugural Aviation Community Reception, investment, jobs, memorandum of understanding, monitor, MOU, news, passenger plane, revenue, Rolls-Royce, SATS, Seletar Aerospace Park, SIA Engineering, Singapore, Singapore Airport Terminal Services, Singapore Airshow, Singapore Aviation Academy, Singapore aviation cluster, tourism
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