Singapore's marine industries now generate annual turnover of Sing$7 billion (US$5 billion) and employ some 48,000 workers, representing a vital contribution to the country's economic growth. The industry has seen significant growth over the past 40 years, evolving from a small regional shiprepair and building centre into a recognised business centre serving international clientele. Over the last three decades, Singapore's shipyards have gained prominence for quality, specialised services, timely delivery, a skilled and disciplined workforce, as well as the ability to handle sophisticated turn-key projects with complex requirements.
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