If I'm asked to describe PUB's last year in two words, I would sum it up as "go far".

After 40 years of trying to overcome our water challenges and creating a sustainable water supply for Singapore, PUB's name is going places. At a time where the world is battling water shortages, floods, polluted rivers and global warming, there is an urgent need for sustainable solutions in water management.

Thanks to the foresight of our political leaders, good water management and efficient use of technology, Singapore is fast being recognised internationally as a model city in sustainable water management.

As a testimony of our success in water management, we were awarded the prestigious 2007 Stockholm Industry Water Award. Widely regarded as one of the highest accolades in the international water sector, the Stockholm Industry Water Award is a boost to our aspirations to build a global hydrohub here.

Water has also been identified as one of three growth sectors for the Singapore economy. Singapore is investing more than $330 million over the next five years to develop the local water industry.

Today there are more than 50 local and international companies spanning the entire water value chain here in Singapore.

Centres of excellence have been set up here by Siemens Water Technologies, General Electric Water and Delft Hydraulics as well as home-grown companies such as Keppel Corporation and Hyflux.

Multi-national companies like Black & Veatch and CH2M Hill have made Singapore a key focus in their business expansion plans by setting up their regional headquarters here. More recently, the International Water Association (IWA) also announced its first regional office at PUB's WaterHub.

Next year will be a watershed year for Singapore's water industry when PUB organises the first Singapore International Water Week. This will be an annual event that will establish Singapore's position on the international radar for water technologies.

More than 6000 government officials, industry leaders and water specialists around the world are expected to convene in Singapore for discussions on sustainable water solutions for cities.

The highlight of the Water Week is the Lee Kuan Yew Water Prize, an international prize to recognise individuals and organisations for their outstanding contribution towards solving global water problems by applying innovative technologies, or implementing policies and programmes which benefit humanity. The award is named after Singapore's founding father, Minister Mentor Lee Kuan Yew who played an instrumental role in ensuring that Singapore has a sustainable supply of water.

Besides the Lee Kuan Yew Water Prize, the Water Week will also comprise the Water Leaders' Summit, Water Convention and the Water Expo. We are gratified at the excellent support of the industry in coming on board as sponsors. Asahi Kasei Chemicals Corporation, Black & Veatch, CH2M Hill, Dayen Environment, Hyfllux, Keppel Corporation, Salcon, SembCorp Industries, The Dow Chemical Company, United Engineers and Veolia Water Solution & Technology have pledged to be founding sponsors while the Singapore Millennium Foundation is the sole sponsor of the Lee Kuan Yew Water Prize for the next five years.

On the local front, it has also been a "go far" year.

The masterplan for the Active, Beautiful, Clean (ABC) Waters exhibition which will make water a feature of our landscape island-wide was unveiled. More than 20 projects will be carried out in the next five years, with another 150 places identified for the next 10 to 15 years.

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