Jamus Lim on Free Trade Zones (Amendment) Bill
Proposed changes to legislation governing Singapore’s free trade zones (FTZs) are meant to improve security and efficiency, but it is unclear how effective the provisions will be, said MP Jamus Lim in Parliament on Wednesday (Oct 4). For instance, he queried how a devolution to licensed FTZ operators and cargo handlers will, in practice, improve due diligence and regulatory compliance. He also suggested a framework on “red flags” to provide guidance on reporting potentially suspicious goods. Assoc Prof Lim also raised concerns about discretionary power being given to the Director-General of Customs to prohibit a person from entering or residing in an FTZ, as well as whether “snap” suspension or revocation of licences when regulatory action is required could have detrimental effects on business operations.
Proposed changes to legislation governing Singapore’s free trade zones (FTZs) are meant to improve security and efficiency, but it is unclear how effective the provisions will be, said MP Jamus Lim in Parliament on Wednesday (Oct 4). For instance, he queried how a devolution to licensed FTZ operators and cargo handlers will, in practice, improve due diligence and regulatory compliance. He also suggested a framework on “red flags” to provide guidance on reporting potentially suspicious goods. Assoc Prof Lim also raised concerns about discretionary power being given to the Director-General of Customs to prohibit a person from entering or residing in an FTZ, as well as whether “snap” suspension or revocation of licences when regulatory action is required could have detrimental effects on business operations.
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