Singapore sets up inter-agency office to grow space industry
SINGAPORE, Feb 21, 2013 (Xinhua via COMTEX) --
Singapore has set up an inter-
agency office to develop the local space industry, a government
minister said Thursday.
A local firm also announced at the Global Space Technology
Convention that it plans to launch the first Singapore-made
commercial satellite in 2015.
The Office for Space Technology and Industry is a program
office established under the Economic Development Board, said
Minister in the Prime Minister's Office and Second Minister for
Trade and Industry S Iswaran.
It will coordinate resources and efforts by government agencies
such as the Agency for Science Technology and Research, the
Ministry of Defense, the Ministry of Education, the Ministry of
Foreign Affairs, the Ministry of Trade and Industry and the
National Research Foundation.
Iswaran said the inter-agency office will plan and execute
economic strategies to drive the growth of the local space
industry. It will work with various industry stakeholders to help
them realize their satellite business and innovation initiatives.
"We believe Singapore will become a compelling location for
satellite-related companies to grow their businesses, develop
their technologies and export new solutions to the world," said
The Economic Development Board, citing a report, said the
global space economy grew by 12.2 percent year on year to 290
billion U.S. dollars in 2011, driven largely by the satellite
industry, which grew by an annual rate of 10.9 percent since 2006
to hit 177 billion U.S. dollars.
"The Asian satellite industry is poised for growth. The rising
affluence of the Asian consumer and increased usage of
sophisticated satellite technologies by businesses are fueling the
demand for satellite services in the region," said Gian Yi-Hsen,
director of the inter-agency office.
Meanwhile, ST Electronics said it is looking to put the first
Singapore-made commercial satellite in orbit in 2015. The 400-kg
TeLEOS-1 will be an earth observation satellite that can take
images for various purposes such as disaster monitoring and
management, mineral exploration, precision farming, environmental
monitoring and climate change studies.
It is designed to orbit around the equator at an orbital height
of about 550 km.
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