Saktiandi Supaat on Free Trade Zones (Amendment) Bill
Why is Singapore looking to amend its Free Trade Zones Act now, instead of much earlier? Given that the same three authorities - Jurong Port, PSA Corporation and Changi Airport Group - will continue to manage Singapore’s free trade zones (FTZs), is the amendment “more of form than substance” or will more operators be licensed? Will the “seemingly unnecessary change” lead to an increase in regulatory or compliance costs which may be passed to companies operating in the FTZs? These questions were raised by MP Saktiandi Supaat in Parliament on Wednesday (Oct 4). He also wanted to know how Singapore’s FTZs measure up in terms of competitiveness against those operated by other major trading countries, especially in the region.
Why is Singapore looking to amend its Free Trade Zones Act now, instead of much earlier? Given that the same three authorities - Jurong Port, PSA Corporation and Changi Airport Group - will continue to manage Singapore’s free trade zones (FTZs), is the amendment “more of form than substance” or will more operators be licensed? Will the “seemingly unnecessary change” lead to an increase in regulatory or compliance costs which may be passed to companies operating in the FTZs? These questions were raised by MP Saktiandi Supaat in Parliament on Wednesday (Oct 4). He also wanted to know how Singapore’s FTZs measure up in terms of competitiveness against those operated by other major trading countries, especially in the region.
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