Speech by Mr Heng Swee Keat, Minister for Finance and Chairman of the National Research Foundation, at the Launch of the WIL@NUS Corporate Laboratory on 19 June 2018, at the National University of Singapore

Mr Hsieh Fu Hua, Chairman, NUS Board of Trustees

Mr Kuok Khoon Hong, Chairman and CEO, Wilmar International Limited  

Professor Tan Eng Chye, NUS President

Ladies and Gentlemen

1. Happy to see so many familiar faces here. Now, in fact, I just came together with Professor Low Teck Seng from our meeting of the NRF Board, with my NRF staff. We are doing a midterm review of our R&D plan and planning for our next R&D plan. So the work has already started. And in fact, we have been aiming to provide steady and consistent funding over the years, and into the future years. As part of this effort, it is very important for us to link academic research to industry for translation. In turn, this translates into benefits for our people – for the people in Singapore and the people around the world. In the case of Singapore, the importance of it resulting in job creation, product development, and manpower training for our companies.

2. Now, our Corporate Labs that have been set up in the universities will draw on the research capabilities and infrastructure to translate research outcomes to market, and strengthen academic and industry partnerships. So the WIL@NUS Corporate Labs is the eleventh corporate lab that has been started since the scheme was launched.
   
   Leveraging Existing Capabilities for Growth

3. Now, what are the R&D strengths that provide for this partnership between Wilmar and NUS?
   
   Challenges that Wilmar and NUS Seek to Address through this Corporate Lab

4. So these are some of things that we have done, and today, we are very happy to see the launch of the Wilmar Corporate Lab, and I would like to briefly mention the challenges that this Lab seeks to address.

5. Collectively the Corporate Lab is expected to contribute to the development of 11 healthier food products or more sustainable methods to produce biochemical compounds, to enhance Wilmar’s expanding product lines of healthy foods and contribute to its sustainable production of biochemicals. Through the partnership with NUS, the Corporate Lab will expand and further anchor Wilmar’s research programme in Singapore.
   
   Conclusion
   
    

6. This is Wilmar’s third research collaboration with an Institute of High Learning or research organisation, and NUS’ fourth Corporate Lab with an industry partner. This partnership between NUS and Wilmar is testimony to the increasing public-private R&D collaborations between universities and industry in our innovation ecosystem, which allow our universities to work closely with industry to develop commercially-applicable solutions for problems faced by industry.
   
    

7. So, let me congratulate NUS and Wilmar for this very important and meaningful partnership.
   
    

8. The Government is pleased to see our R&D investment bearing fruit in terms of enhanced economic value for industry as well as social good for our people. I am confident that the Corporate Lab can deliver impactful and meaning solutions for our people and our economy, and contribute to a better understanding of the importance of nutrition worldwide. So, I am looking forward to food products from the Corporate Lab that could enhance the health and wellbeing of our people, as well as greener and more sustainable production of biochemical compounds for our industry.

9. On that note, my heartiest congratulations. Thank you.