BIOTECHNOLOGY MOVES IN SINGAPORE

7 February 1994

During 1994, the government of Singapore is to provide S$20 million ($12.5 million) to continue its policy of promoting the country as a center for industrial biotechnology.

The money will go towards encouraging the development of joint ventures, alliances and other collaborations between local and overseas ventures, with particular emphasis on developing tripartite alliances with overseas companies and the authorities in China, according to a report in European Chemical News.

Singapore Bio-Innovations' Economic Development Board says that investment in this area so far has totaled S$20 million, with S$10.8 million invested by the government last year in ten biotechnology companies.

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