Singapore is A Global Logistic Hub
Singapore is one of Asia’s leading global business and financial centers, and its strategic location has also encouraged businesses in the region and around the world to explore business opportunities. Ranked by the World Bank as Asia’s top logistics hub for 10 years in a row, Singapore offers world-class connectivity to the region and beyond, the city-state has a reputation for being one of the world’s best infrastructure and processes in the logistics industry.
According to the Singapore Economic Development Board (EDB), there are two industry trends that suggest that Asia will be the home of future global leaders in transport and logistics. The long-term shift in trade and investment from the West to the East was cited as one of the reasons for growth. The title for the world’s busiest shipment hub proclaimed to its well-connected 600 ports in over 120 countries, it has also consistently topped the Leading Maritime Capitals of the World report.
Changi Airport Singapore also voted the best internationally for the seventh consecutive year in 2019, and serves more than 120 airlines flying to some 380 cities in about 100 countries and territories worldwide.
Singapore has an extensive network of over 23 implemented Free Trade Agreements to enhance its access to major markets. This encourages companies across the logistics chain to operate from Singapore, as Singapore is a global logistic hub, they know they can count on frequent and reliable connections to reach global markets quickly. Singapore port will be able to process an equivalent of 65 million standard shipping containers, making it their largest integrated facility in the world. Shipping and delivery probe into automated guided vehicles, leveraging smart sensors to detect shipping anomalies such as piracy, and data analytics to predict traffic surplus spots.
The government has also attracted investors to Singapore by ensuring a conducive investment climate and developing the right incentives for private sector participation. Today, Singapore is a prime location for major logistics firms, with the top 25 global players conducting operations here. These firms anchor their major logistics and supply chain operations, specialized capabilities, and innovation activities here. The result? Singapore becomes a global logistic hub to a vibrant and integrated ecosystem that allows logistics to thrive, and new supply chain solutions to be developed. It comes as no surprise then that business events in these sectors have flourished in Singapore.
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Visit Singapore, Singapore Economic Development Board website, Ministry of Trade and Industry Singapore website