The Study Of Biomedical Science Industry’s Development In Singapore(2000-2015)

Nowadays,the modern biotechnology industry is an emerging strategic industry of the 21st century.In recent years,Singapore’s biomedical science(BMS)industry has developed rapidly and become an important part of the global biomedical value chain.Since Singapore implemented The Biomedical Science Initiative(BMS Initiative),biomedical science industry has entered a new phase of development.Biomedical science industry is gradually becoming an emerging economic pillar.In the international arena,the competitiveness of Singapore’s biomedical manufacturing has a great improvement when compared with China,Japan and India,which are the major competitors to Singapore in Asia.While its international competitiveness in pharmaceuticals follows close behind India which has the greatest competitive advantage,Singapore is the strongest competitor out of these four countries in medical technology product manufacturing.This paper applies theories on global value chain and industry international competitiveness,elaborates the development of biomedical science industry in Singapore,and analyzes its international competitiveness.Government and MNCs are regarded as the facilitators for Singapore’s BMS industry’s development.With the argument of these two main factors of the influence,it attempts to summarize experiences from Singapore’s BMS industry development.The paper consists of following six chapters.Chapter One is the introduction.It contains the significance of the selected topic,the literature review and the research methods and framework.Chapter Two describes theories on policy framework of global value chain and the relationship between government’s behavior and industry international competitiveness,and illustrates the appraisal system of international competitiveness based on import&export data.Chapter Three states the development of biomedical science industry in Singapore,indicating its influence on domestic economic development and exploring biomedical manufacturing’s international competitiveness with the comparisons among China,Japan and India.On the basis of sorting out the industrial policies,Chapter Four demonstrates the relationship between the government actions and BMS industry development.Chapter Five discusses MNCs’ influences on BMS industry with a case study on GlaxoSmithKline.Chapter Six is the conclusion.It summarizes the development experiences of Singapore biomedical science industry,and puts forward its significance to China.Singapore’s experience suggests that the development of an emerging industry requires the support of government industrial policies to create the best investment and operating environment for the industry.At the same time,an economy should make full use of and participate in the global value chain dominated by MNCs,which could leads itself to a good position in the fierce international competition relying on its own comparative advantages.