Chan Chun Sing on shifts, opportunities in global supply chains
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Chan Chun Sing on shifts, opportunities in global supply chains(Updated: )
The COVID-19 pandemic will accelerate the shifts in global supply chains. These supply chains are likely to move nearer to their final demand markets to be more resilient. This will severely impact the global economy and Singapore. But there will also be opportunities to fill unmet demand in new supply chains. Trade and Industry Minister Chan Chun Sing said this in Parliament on Tuesday (May 26), in reply to an MP’s questions. The Government is helping companies and workers to take advantage of these shifts, such as boosting Singapore’s connectivity and status as a financial and logistics hub.