In terms of pure trade facilitation initiatives, Singapore has been active in developing two programs that could aid breakbulk and project cargo movements.
Singapore’s Economic Development Board has launched the Future Ready Singapore initiative. This is a broad and all-encompassing activity, including among other things a “Logistics Industry Transformation Map” aimed at strengthening Singapore’s position as a leading global logistics hub by driving innovation, productivity and talent. It is hoped that this will help enterprises better capture growth opportunities in this sector.
Also under the umbrella of Future Ready Singapore is another logistics-focused initiative, Smart Nation, Smart Logistics. This seeks to leverage new technologies in global freight to drive efficient end-to-end supply chains capable of serving growing consumer demand.
The initial step will be to solve current inefficiencies in existing distribution networks through data analysis to increase collaboration between freight companies. New data exchanges will share information about delivery routes, types of goods, and delivery schedules among companies, government agencies and logistics service providers, with the goal of optimizing delivery processes.
Photo credit: Future Ready Singapore
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