Singapore logistics sector holds steady

The Economic Development Board of Singapore has announced the country’s logistics sector held steady last year despite the global downturn. It reported that the sector attracted about $481 million in business spending last year, down slightly from 2008. The logistics sector, which makes up about 5.5 per cent of Singapore's economy, also brought in some 1,240 skilled jobs last year, up some 50 per cent on 2008. The EDB attributed the growth to the expansion of foreign companies in Singapore.

The EDB's assistant managing director Julian Ho said that growth in the logistics and supply chain management sector could be attributed to the third party logistics companies, specialised supply chain companies, who are looking to establish operations in Singapore to view or manage their Pan Asian operations.

Read more here