Singapore boasts the world’s second busiest seaport and sixth busiest airport. However, we face increasing pressures from global and regional competitors who are engaging in ambitious large-scale infrastructure projects for their seaports and airports. Technological advancement and new trade routes may also lead to the bypassing of Singapore in international shipping and air travel.
Plans are underway to dramatically expand the capacity and capability of both our ports. By 2030, Changi Airport is set to double in size with the addition of Terminal 5, whilst the up-and-coming Tuas mega port will combine all of Singapore’s maritime port operations to become the world’s largest, fully automated terminal.
These big moves are expected to cost tens of billions, and the stakes are high. The maritime and aviation industries alone account for a tenth of our GDP and nearly 250,000 jobs. Furthermore, connectivity is one of our biggest economic advantages; it allows us to enjoy competitive rates for cargo and raw materials, enables our finance and business sectors, and promotes our tourism, hospitality and retail sectors.
Are our efforts sufficient? What threats do we face? How should we view competing initiatives? How do we maintain and extend our competitive advantages?
At this lunch dialogue, top leaders of our maritime and aviation industries — Civil Aviation Authority of Singapore, Maersk, Maritime Port Authority of Singapore, Rolls-Royce, and World Bank — will share their insights with IPS Corporate Associates and address these critical issues in an interactive session.