Singapore’s Greening Efforts Spells More Opportunity in Environment Technology

PRLog (Press Release) – Jul 19, 2008 – Singapore‘s Environmental Technology (ET) industry received a double boost with the launch of the Environmental and Water Technology Centre of Innovation (EWT COI) and the Environmental Technology Capability Development Programme (EnviroTech CDP). Both initiatives, totaling up to $12 million, aim to strengthen local SMEs’ capabilities to develop breakthrough technologies in environmental solutions and energy sustainability.

The 3 Memorandums of Understandings (MOUs) signed by Singapore with the Middle East on in June this year is a testimony to Singapore’s excellence in this sector. As per the MOU, Singapore will offer expertise in water distribution efficiency and water conservation as well as provide consultation in sanitary services to Bahrain. Singapore will also co-develop technologies and capabilities in environmental protection and water management with the United Arab Emirates (UAE). Thus Singapore encourages enterprises operating in the evolving industry and companies operating out of Singapore can ride on the Republic’s brand value in this niche industry.

Worth approximately S$1 trillion (US$600 billion) globally, the environmental industry has been earmarked by Singapore as a strategic growth area to help the country diversify its economy. Extreme weather patterns, mounting Fossil fuel prices, increasing green house gas emissions are pressing the governments across the globe to step-up their greening efforts. Singapore, a highly urbanized city devoid of natural resources is keen to create a self-sustaining, self-renewing model for environmental care.

Singapore’s well coordinated efforts to create a sustainable water management system, has culminated into an exemplary model of integrated water management which is internationally acclaimed. Singapore's vision is to become a "Global Hydrohub”, globally, the water market is booming, spurring a wave of R&D activities, new products, investments and jobs. Many multinational companies such as GE and Siemens have already set up or expanded their businesses and research activities here. Singapore is capitalizing on its established brand-name in the field of water management by setting aside $330 million to grow the water industry over the next five years.

In early 2007, Singapore heralded its entry into the clean energy race as Prime Minister Lee Hsien Loong announced a $170 million research fund for the industry. The Economic Development Board (EDB) soon unveiled a more detailed $350 million blueprint - for research and development, testing and pilot projects in clean energy. To realize Singapore's ambition of becoming a major clean energy player, a Clean Energy Programme Office (Cepo) was announced in March 2007. CEPO plans to grow the clean energy industry in Singapore by focusing on cluster development, technology development and internationalization. In cluster development, it already has in place measures to attract major international companies, groom local companies to be world-class players, and to promote start-ups in this industry.

EDB is in the process of strengthening the country's branding globally in this industry and creating a vibrant ecosystem by nurturing environmentally focused local companies, talent and research activities and is also equally enthusiastic in attracting foreign enterprises, foreign talent, Research institutions and venture capital companies that specialize in Environmental technology.  

Ms. Ragini Dhanvantray CEO of Rikvin Consultancy says “With Sustainable development becoming an international watchword, environmental technology is garnering more investment and growth. Singapore rides on this emerging global trend to achieve new growth dimensions, the city state with nil resources has evolved and is graduating to a fine model for successful adaptation of environmental technology and standards globally, hence companies operating from here command great brand value. Moreover Asia is the fastest growing market in environmental industry, therefore many companies choose Singapore to setup shop and the government is also receptive to companies with such expertise”

Rikvin consultancy provides highly professional company incorporation services, both in attractive standard packages as well as customized services. Online incorporation being a hallmark service, other services of Rikvin include

•   Offshore Incorporation
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Rikvin consultancy started in 1995 is an incorporation specialist specializing in company incorporation, registration and administration processing for all business types and sizes in Singapore and throughout the world.  For further information visit http://www.rikvin.com