At a recent opening of DHL's fifth service center in Singapore, S. Iswaran, Minister of State for Trade and Industry, said that the logistics industry accounts for more than 8% of his country's GDP.
A key part of the Asian supply chain, Singapore has drawn 17 of the world's top 25 Third Party Logistics Providers to establish their hubs here as reported by Xinhua.
Singapore is home to the world's largest container port which is connected to more than 120 countries and over 600 ports worldwide, and also has one of the largest cargo airports, linking it with more than 180 cities globally.
"In this era of globalization, having a good supply chain system is a necessary but not sufficient condition for businesses. It is also important to have an efficient 24/7 operation, reliable physical and IT infrastructure and of course excellent connectivity," said the minister.
To help build up the infrastructure the country has designated locations dedicated to enhance connectivity and efficiency, such as the Airport Logistics Park of Singapore (ALPS) in the airport free-trade zone, the Banyan LogisPark, and Changi International LogisPark.
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