Singapore Boosts Space Sector with S$60 Million Investment and New Earth Observation Initiative

Singapore has also announced ambitious proposals to enhance its position in the global space market. Deputy Prime Minister Gan Kim Yong made the additional S$60 million spend over the next two years in the Space Technology Development Programme announcement. This complements the earlier S$150 million spent in 2022. Singapore has also initiated the Earth Observation Initiative to tackle regional sustainability issues utilizing satellite technology. The decision is meant to ride on the expanding space economy, which is expected to grow to US$1.8 trillion in 2035. With some 70 space firms and 2,000 experts in space, Singapore stands to become a leading space technology innovation hub.

 

Source: Channel NewsAsia, Xinhua News Agency, Singapore Ministry of Trade and Industry