atans1

Ang moh manufacturer employs more people here than in China and planning to employ a lot more

In Economy, EDB on 29/10/2018 at 1:49 pm

Dyson which already has facilities here (and employs more people than in China — see below) is to build the first of its electric cars in Singapore, choosing the country over the UK and China.

Privately owned by one  Mr Dyson, Dyson is planning to break into the automotive industry with a series of electric vehicles, using its existing knowledge in batteries and electric motors to give it the edge over established manufacturers. It manufactures and sells hairdryers, vacuum cleaners and air filters.

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Something that alt media doesn’t tell S’poreans

The PAP govt is attracting advanced manufacturing here and Dyson shows this.

Advanced manufacturing is a priority for Singapore, which deems it a way to raise productivity at a time when the city-state has struggled to maintain high levels of efficiency.

FT

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The FT reports

Singapore’s incentives include tax breaks for five years, which can be extended, and R&D grants that can cover up to 30 per cent of the cost of projects that involve product, application or process development, according to the Singapore Economic Development Board. They also offer expensive land at discounted rates, says a person with experience of Singapore’s economic planning. “They definitely would have given [Dyson] a favourable tax break,” they add.

Dyson refuses to reveal the scale of its investment, though the EDB’s Kiren Kumar says the company would double its 1,000-strong workforce in the country through the investment.

For Dyson, which says its Singapore investment was premised on market access rather than incentives, no amount of government support can remove the need to pour its own resources into the venture.

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  1. When I saw this story, 1st thing in my mind was how many years tax holiday they got and the quantum of grants & rebates hoho!

    It has been SOP since the 1970s and the team always comprises EDB, JTC, IRAS, reps from MTI, and sometimes from LTA (when tpt & comms are an issue) and power companies (if energy requirements are unusual). Ascendas also sometimes roped in.

    Btw I was shown a sample of the grant conditions before and besides the usual specified amount of capex & ppe (what EDB used to track as FAI – Fixed Assets Investment), there will often be manpower requirements in terms of numbers & what level/category of employees. Funny enough, most of the time there is no requirement to hire locals. 🙂

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