JTC to focus on core functions

JTC to focus on core functions 

 

The JTC is conducting a strategic review in an ongoing drive to reinvent its role in Singapore’s industrial landscape.

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At a gala dinner on Friday to mark its 40th anniversary, JTC chairman Cedric Foo outlined the organisation’s three main objectives: Maximising Singapore’s limited land resources, promoting an active industrial property market; and being a strategic infrastructure provider undertaking large-scale specialised projects that Singapore requires for economic development.

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Prime Minister Lee Hsien Loong, in his speech at the dinner, encouraged JTC to continue to adapt to the changing global environment as Singapore keeps manufacturing as a key driver of economic growth.

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“For manufacturing toremain viable here, we have to differentiate ourselves from others, competing not just on cost but also on quality,” said Mr Lee.

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In particular, JTC will be sharpening its focus to fill market gaps and maximise its effectiveness.

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As the private sector is more capable of developing industrial projects, JTC will sell off much of its existing facilities in the market segments. At the end of this month, it will divest its ready-built industrial facilities to Mapletree.

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“This will free JTC to focus on its core functions of master-planning industrial estates, allocating land for industrial use, and preparing the land ahead of time with the right configuration of infrastructure and utilities,” said Mr Lee. — Tan Hui Leng

The JTC is conducting a strategic review in an ongoing drive to reinvent its role in Singapore’s industrial landscape.

.

At a gala dinner on Friday to mark its 40th anniversary, JTC chairman Cedric Foo outlined the organisation’s three main objectives: Maximising Singapore’s limited land resources, promoting an active industrial property market; and being a strategic infrastructure provider undertaking large-scale specialised projects that Singapore requires for economic development.

.

Prime Minister Lee Hsien Loong, in his speech at the dinner, encouraged JTC to continue to adapt to the changing global environment as Singapore keeps manufacturing as a key driver of economic growth.

.

“For manufacturing toremain viable here, we have to differentiate ourselves from others, competing not just on cost but also on quality,” said Mr Lee.

.

In particular, JTC will be sharpening its focus to fill market gaps and maximise its effectiveness.

.

As the private sector is more capable of developing industrial projects, JTC will sell off much of its existing facilities in the market segments. At the end of this month, it will divest its ready-built industrial facilities to Mapletree.

.

“This will free JTC to focus on its core functions of master-planning industrial estates, allocating land for industrial use, and preparing the land ahead of time with the right configuration of infrastructure and utilities,” said Mr Lee. — Tan Hui Leng

 

Source : Today Newspaper

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