Water industry set to boom

SINGAPORE'S economy is expected to get a boost of at least $590 million per year through investments made in the water industry that would generate at least another 2,300 jobs over the next five years.

This is almost double what the industry contributed in 2005. It had then contributed $660 million to Singapore's gross domestic product (GDP) and some 6,300 jobs.

The Environment and Water Industry Programme Office (EWI) - an inter-agency body comprising PUB, the Economic Development Board (EDB) and International Enterprise Singapore - formed in 2006, revealed these figures yesterday at a media briefing held at the Marina Barrage.

Mr Yeoh Keat Chuan, EDB's assistant managing director, said that EWI has already crossed the halfway mark towards its target of contributing $1.7 billion to Singapore's GDP and 11,000 jobs by 2015.

The agency is confident that it will be able to reach this target by then, he added.

The EWI said the addition to the GDP and injection of new jobs stem from new projects secured by the industry from 2006 to last year. They will be added to the economy when the projects are fully realised.

The majority of the new jobs are expected to go to highly skilled professionals, such as engineers for high-value manufacturing and research engineers.

About 70 per cent of these jobs are expected to go to Singaporeans and permanent residents.