The Wall Street Journal, 21 Mar 2009, TOM WRIGHT
"Singapore has poured billions of dollars into building up its pharmaceutical industry as it loses electronics jobs to China and India. The government a few years ago built a biomedical hub known as "Biopolis"--a number of interconnected futuristic office towers where Novartis and other foreign pharmaceutical companies and researchers are based. To attract world-class scientists from the U.S., Europe and Japan, the state offered generous funding grants, high salaries and tax breaks.
The investments, which are a decade or so away from paying off commercially, have attracted some criticism locally. The daughter of Lee Kuan Yew, Singapore's first prime minister, who is still a senior cabinet member, has questioned the strategy of attracting foreign talent that only stays for a few years."
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