Prime Minister Lee Hsien Loong said the value-add of Singapore's interactive and digital media industry has grown by more than 1.5 times since 2008 to exceed S$2 billion.
Mr Lee expects this to continue growing, and adds that Singapore will strengthen its position in the field by investing in infrastructure, and developing and welcoming talent.
He said this on Thursday at the opening of the Sandcrawler building, Lucasfilm's new office in Singapore's One North.
On investing in infrastructure, Mr Lee said clustering digital and media companies will spur creativity and innovation.
That is why Singapore has created a cluster around Fusionopolis and Mediapolis at One North, with MNCs like Lucasfilm, Walt Disney, Ubisoft and Discovery as well as local companies like MediaCorp's new campus, and StarHub's new Internet Exchange.
He said clustering also promotes engagement and collaboration, and he looks forward to more interesting partnerships and creations from One North.
On developing and welcoming talent, Mr Lee said local institutions have partnered companies like Lucasfilm to train promising artists.
An example is Lucasfilm training over 100 Singaporeans under its Jedi Masters Programme.
At the same time, companies assemble diverse, talented teams from around the world.
He said this is seen in Lucasfilm's Sandcrawler which is home to a United Nations of talent of almost 40 nationalities, including more than a hundred Singaporeans.
Mr Lee also thanked Lucasfilm for its trust and confidence in Singapore.
He said Lucasfilm could have set up an office anywhere in the world, but chose to come here for its regional headquarters.
Lucasfilm will share the state-of-the-art complex with the Walt Disney Company and ESPN Asia Pacific.
Also at the launch on Thursday were Lucasfilm founder George Lucas and its president Kathleen Kennedy.
The Sandcrawler building takes its name from a large vehicle featured in the original Star Wars film.
It spans 22,500 square metres and houses offices, a 100-seat theatre, state-of-the-art digital production capabilities and retail space.