Germany’s TUV SUD Opens S$100mil Regional Hub In Singapore
SINGAPORE – German-based multinational testing & certification giant TUV SUD has invested S$100 million to establish a regional hub in the city-state, reported The New Paper (TNP) on Thursday morning (9 September, SGT).
Located at Jurong’s International Business Park, the 7-storey office and laboratory complex contain over 60 laboratories to test different technologies as part of the firm’s research & development efforts.
The new facility measures 18,900 sq m (203,438 sq ft), which is roughly equivalent to 2.5 football fields, and around 650 staff have already relocated there from TUV SUD’s previous workspace at Singapore Science Park.
During the facility’s official opening ceremony on Wednesday, Deputy Prime Minister Heng Swee Keat highlighted that the German firm made such a substantial investment despite the economic challenges caused by the COVID-19 pandemic. This shows that multinational corporations (MNCs) remain bullish on Singapore’s prospects.
“As the first regional hub outside of Germany that TUD SUV designed and built from scratch, this is a vote of confidence in Singapore and the region’s prospects,” said Heng, who is also Coordinating Minister for Economic Policies.
He pointed out that the city-state’s economy is sprouting green shoots of recovery. As a matter of fact, the country’s gross domestic product (GDP) is expected to expand by 6 to 7 percent for the whole of 2021 partly because of such continued business confidence in Singapore.
Moreover, TUV SUD’s new regional hub will function as a launch pad for collaboration in new growth areas, like sustainability and building trust in the digital economy, noted Heng.
The German firm offers security, safety, and sustainability solutions. In particular, it specialises in auditing, testing, certifying, and providing advisory services, while its new regional hub will generate 50 new jobs in cyber security and engineering.
“Singapore and Germany are two countries which are actively working on shaping the future with innovative technologies and solutions designed to benefit people and the environment,” added Axel Stepken, Chairman of TUV SUD’s management board.