SINGAPORE (June 30): Maybank Kim Eng said Thursday that Singapore’s industrial REITs are in a “sweet spot” amid government support for R&D and high-value industries.

“The government’s Research Innovation & Enterprise Plan 2020 alone has committed $19 billion of funding to R&D for 2016-2020, amounting to close to 1% of GDP,” says Maybank lead analyst Joshua Tan. “If this does catalyse private funding, R&D spending could potentially climb from 2% of GDP to 2.4%.”

In addition, the government announced in Budget 2016 a $4.5 billion Industry Transformation Programme (ITP), which aims to raise the productivity of Singapore’s SMEs and help them scale-up.

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