<P> Singapore is aggressively promoting and developing its biotechnology industry . Hundred of millions of dollars were invested into the sector to build up infrastructure, fund research and development and to recruit top international scientists to Singapore . Leading drug makers, such as GlaxoSmithKline (GSK), Pfizer and Merck & Co., have set up plants in Singapore . On 8 June 2006, GSK announced that it is investing another S $300 million to build another plant to produce paediatric vaccines, its first such facility in Asia . Pharmaceuticals now account for more than 8% of the country's manufacturing production . </P> <P> Singapore is the pricing centre and leading oil trading hub in Asia . The oil industry makes up 5 per cent of Singapore's GDP, with Singapore being one of the top three export refining centres in the world . In 2007 it exported 68.1 million tonnes of oil . The oil industry has led to the promotion of the chemical industry as well as oil and gas equipment manufacturing . Singapore has 70 per cent of the world market for both jack - up rigs and for the conversion of Floating Production Storage Offloading units . It has 20 per cent of the world market for ship repair, and in 2008 the marine and offshore industry employed almost 70,000 workers . </P> <Table> <Tr> <Td> </Td> <Td> This section needs to be updated . Please update this article to reflect recent events or newly available information . (July 2013) </Td> </Tr> </Table> <Tr> <Td> </Td> <Td> This section needs to be updated . Please update this article to reflect recent events or newly available information . (July 2013) </Td> </Tr>

Why does singapore have a high gdp per capita