SINGAPORE RECORDS GROWTH IN LOGISTICS INVESTMENT AND JOBS

SINGAPORE RECORDS GROWTH IN LOGISTICS INVESTMENT AND JOBS    The logistics and transport industries based in Singapore increased their investment and continued to create jobs last year, according to a report published by Singapore’s Economic Development Board.
   The government agency monitors the development of the logistics and transport industrial “cluster,” which comprises the logistics/supply chain management, aviation, maritime, offshore engineering and land transport sectors.
   In 2002, the industries invested a total of S$300 million ($170 million) in manufacturing fixed assets, as compared to investments of S$400 million in 2001. The logistics and transport industries also created 3,170 jobs last year, of which 98 percent are professional and skilled jobs, as compared to 3,150 new positions in 2001.
   The investments will also generate S$930 million ($540 million) in value-added a year, the government agency said.
   Singapore aims to develop the country into an integrated and connected hub for the flow of goods, finance, information and people, globally and regionally.
   The Economic Development Board said that two significant, recent projects were    Exel’s new S$23-million ($13-million) logistics facility at the Airport Logistics Park of Singapore, and Savi Technology’s S$4-million ($2-million) global research and development center.
   Singapore’s transport industry consists of four sectors: aviation, maritime, offshore engineering and land transport. The marine ship-repair and shipbuilding industry remained resilient last year, driven by demand from the offshore market.
   The government agency said that it encourages automotive companies to set up component design and manufacturing, information technology hubs and regional distribution centers in Singapore to take advantage of the ASEAN Free Trade Area.
   Toyota Motor Asia Pacific has commenced an international cross-dock operation for parts distribution in Singapore. This operation covers eight part-exporting plants in five countries and 11 importing plants in 10 countries in Asia-Pacific, Africa and Latin America.
   The Economic Development Board said that the Asian logistics and supply chain management industry is expected to continue to grow and Singapore would capture a share of this growth as “a supply chain management nerve center.”