Singapore clinches “Best Seaport in Asia” for 28th time
In the recent Asian Freight, Logistics and Supply Chain Awards (AFLAS) organized by Asia Cargo News in Shanghai, the Port of Singapore was once again awarded the “Best Seaport in Asia” status, for the 28th time.
The award was given in recognition of Singapore’s leading performance in cost competitiveness, world-class containing shipping infrastructure, timely and adequate investment in new infrastructure, friendly fee regime, and various incentives given by Government in support of shipping and maritime companies.
The home-grown global container group of PSA was recognised with multiple international accolades, including two from Asia Cargo News, namely the “Best Global Container Terminal Operating Company” and the “Best Container Terminal – Asia”.
The construction of future Tuas Terminal is well underway, that will see a total capacity of up to 65 million TEUs upon full completion, with high-tech infrastructure to improve efficiency and productivity.
The city-state’s strategic location, conducive business environment, ease of capital access, openness to immigration, plus business friendly taxes make it a consistent top destination in setting up businesses and anchors it firmly in top spots in the latest Global Competitiveness Index according to World Economic Forum.
For more details the announcement, you may refer to Maritime and Port Authority of Singapore’s media release here.
Singapore taxes, accounting and regulatory matters