Singapore is one of the most advanced countries in the world when it comes to the use of technology. This is because, technology was implemented in most industries which were modernized. One of these industries is logistics which is very important for the Singapore economy. In order to support this and other sectors, at the end of last year, the government announced a program called the Industry Transformation Map which included sub-programs for each segments of the economy, logistics included.
Our Singapore company formation consultants can assist investors who want to open companies in the logistics industry.
One of the most important challenges of the Singapore logistics companies is to track their containers all over the island, which why the Industry Transformation Map includes the creation of a new tracking system which would allow companies to do exactly that. The new program should be up and running in two years.
The program is called the Transport Integrated Platform and will help companies operating in the land transportation area.
Our company formation experts in Singapore can help those interested in starting a business in the land transportation industry.
Apart from the Transport Integrated Platform, the government’s scheme aims at creating innovative solutions for all companies in Singapore operating in this field. From trainings tailored to the workforce in the logistics sector and up to creating 2,000 new technical and managerial positions, the Industry Transformation Map is meant to change the face of this important industry on a long-term basis.
By the end of 2020 when the program will finish, the government plans for the Singapore logistics sector to have an added value of 8.3 billion SGD.
Internationalization is also in the schedule of the Map for the logistics sector, as several governmental agencies, including International Enterprise, will act as contact points between local companies and governments in other countries where they can expand their operations.
Foreign investors interested in opening a company in the logistics industry are welcomed to contact our company formation advisors in Singapore for assistance.