SINGAPORE – A new industrial district will be launched in Jurong to be the centre of innovation for enterprise, learning and living, Finance Minister Heng Swee Keat said in his budget speech on Thursday.
Named the Jurong Innovation District and to be located close to Nanyang Technological University, the area will be an environment where learning, research, innovation and activities are housed within a single industrial district, TODAY reported.
The first phase of the Jurong Innovation District is targeted for completion around 2022.
“Fifty years ago, we transformed Jurong from swampland into a thriving hub for the manufacturing industry that powered Singapore’s economic growth. Now, we will make another leap to create the industrial park of the future,” Heng said.
“Our earlier industrial estates were developed for specific industries, focused mostly on production. Today, however, learning, research, innovation and production are closely intertwined,” he added.