On Wednesday, 3M, an American multinational conglomerate corporation, opened a drug delivery R&D lab in Singapore, which is also its first in Asia.

Apart from this, it also happens to be the first drug formulation lab in Singapore. This will introduce in Singapore, new drug delivery device capabilities that will enhance and strengthen the fast growing base of biomedical research here, expressed Minister for Trade and Industry Lim Hng Kiang, at the opening ceremony for the lab on Wednesday.

Kiang stated that now the pharmaceutical and biotech companies can influence 3M's R&D presence in Singapore to co-develop innovative drug delivery products for global markets.

"More than 50 global biomedical sciences companies carry out cutting-edge R&D in Singapore, and that through Singapore, they can take their innovations beyond the laboratory into clinical testing and commercial development," he said today.

He maintained that the country is still committed to develop a pool of science and engineering research talent with the aim of driving innovation and sustain strong economic growth.

Kiang emphasized the government's initiatives such as the establishing of a 1 billion Singapore dollar (about 699 million U. S. dollar) national scholarship program to fund 1,000 Ph. D.'s in science and engineering.