What factors create the "authority" of Logistics industry in Singapore?
With the Logistics system rated as the world's leading, Singapore has continuously recorded its name in the Top 5 of the Logistics Competency Index (LPI) by World Bank. So, what factors make the "authority" of Logistics industry in Singapore?
1 / Global connection
Singapore possesses great advantages of geographic location. The country is located at the equator, rarely affected by natural disasters. Ports and airports almost operate throughout the year to facilitate the loading and unloading of goods. With a combination of natural advantages and modern infrastructure, Singapore is a hub for "bustling" goods from around the world.
Internal connections and trade agreements
Compared to other Logistics Hubs, Singapore's local market is relatively small, but ports have worked closely with shipping lines to build one of the world's most dense maritime transport networks.
Singapore has an extensive network of free trade agreements with more than 30 trading partners to enhance its access to major markets. This encourages companies in the Logistics chain to operate in Singapore, because they know they can rely on regular and reliable connections to reach the global market quickly. In fact, transshipment of goods via Singapore can be faster than direct shipments!
The multifunctional Jurong port is a prime example of the Lion Island's global connectivity. Receiving more than 15,000 trains annually and handling more than 500,000 TEUs of container and bulky goods, Jurong Port is considered the world's most modern and "green" harbor with the title of "Solar battery system". the world's largest ”provides more than 60% of the electricity used at ports.
2 / Infrastructure and creative process
Upon completion of the next-generation port development plan by 2030, the Singapore port system will be able to handle more than 65 million standard containers and become the largest integrated infrastructure in the world.
Supply Chain City - Application of automatic technology
In addition to infrastructure investments, Singapore is working on unmanned automated control technologies that leverage intelligent sensors to detect transport anomalies such as piracy and analysis. Data to predict traffic congestion points.
The lion island nation is also focusing on developing its potentials in technology and innovation in logistics. The most prominent is the Supply Chain City technology demonstration complex worth more than S $ 200 million.
Dubbed "Silicon Valley mini", Supply Chain City is a combination of a 5-storey warehouse system with advanced Ramp-up design, 45-meter high distribution center applying Fusionaris technology - Storage system & the first automatic retrieval (ASRS) in the world, with office system, research & teaching center.
Singapore expects the introduction of Supply Chain City to lay the foundations for optimizing end-to-end supply chains through value-added services in logistics and supply chain management solutions. .
3 / Developing & attracting human resources
Leading the world in education policy (according to 2017 Rankings, Economist Intelligence Unit), Singapore human resources are always highly appreciated. The advantage of this country's education comes from the quality of its teaching staff. They focus on providing students with the skills they need to succeed in their future careers.
Logistics is no exception with training programs from prestigious universities such as Curtin University, National University of Singapore (NUS). In 2017, Curtin University. Top 1% of the world's top universities in the Academic Ranking of World Universities.
Attract foreign investment
Singapore Government is very interested in attracting investment from global logistics companies. Singapore Logistics Association (SLA) was established in 1973 to connect Logistics businesses from all continents, ensure a favorable investment environment and develop appropriate incentive policies for the participation of the park. private sector. This is reflected in the fact that 20 of the world's top 25 logistics companies are currently managing operations in Asia from their Singapore headquarters.
4 / The promised land for Logistics people
With a vision of government reform, combined with strategic geography, world-class infrastructure and excellent global connectivity, Singapore's logistics industry is constantly growing, becoming a Global Logistics Center, a land of great potential to develop for Logistics.
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