The development, to start from 2030, will complement the upcoming Changi East Industrial Zone.
This comes as manufacturers globally are exploring new production locations, which will alter the flow of trade and logistics and lead to higher volumes of cargo passing through Singapore.
The new Airport Logistics Park of Singapore will create new capacity to service more logistics companies, encouraging them to set up their regional distribution centres here, said Minister for Trade and Industry Gan Kim Yong on Oct 3. Like the existing airport logistics park, the new one will have free trade zone status, allowing logistics companies to benefit from perks such as high-quality park management as well as cost and tax incentives.
He added that Singapore is now the largest air cargo hub in South-east Asia, with more than 6,900 weekly flights operated by close to 100 airlines.Mr Gan noted that global companies are increasingly choosing Singapore for this purpose, citing companies like 3M, Schneider Electric, Applied Materials, Asahi and Zuellig Pharma.
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