Singapore Invests In Stem Cell Research

With no national debt and the economy growing at 6.3% in 2006, according to BMI forecasts, Singapore is able to invest around US$25- US$30mn on average per year in stem cell research. This forms part of an overall government strategy to develop the nation's biomedical industry. After suffering a recession in the 1980's Singapore identified a number of emerging industries with which it hopes to fuel future growth. Whereas previously it had been a hub for petrochemicals and electronics, now the country is looking towards pharmaceutical production and life sciences. In fact, in November 2006 pharmaceutical output surged by 46.1% y-o-y, on the back of a 19.9% increase in October.

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