Singapore, which imports 90% of the food it consumes, is making concerted efforts to produce and store its own food, as it seeks greater food security in the face of external threats such as climate change and pressures from neighboring Malaysia.
The Singapore government has launched a series of new food projects in order to be able to feed its growing population. Earlier this month, it announced that it would open a 18ha "Agri-Food Innovation Park" which will be used for high-tech farming processes and research and development activities including insect farms.
"We are working with local and overseas industry players to develop this first phase of the park, which will be ready from the second quarter of 2021 with potential for future expansion," said Koh Poh Koon, Singapore's senior minister of state for trade and industry.
Singapore is also looking to develop a new sector of agri-technology using local talent in its bid for more secure food supplies. SEEDS Capital, the investment arm of government agency Enterprise Singapore, has appointed seven co-investment partners to inject more than S$90 million into Singapore-based agri-food tech startups.