Shawn Huang on Free Trade Zones (Amendment) Bill
Many countries have set up free trade zones (FTZs) to boost business activity and reap the benefits, said MP Shawn Huang. Speaking in Parliament on Wednesday (Oct 4), he noted that FTZs have been instrumental in the evolution of trade in the global economy. As more zones are operated via the hybrid and collaborative model between the Government and private parties, there is a need to enhance and tighten the processes to guard against exploitation, he said. He wanted to know what measures will be taken to ensure that the FTZ operators meet proper data management and cyber security requirements. He also wanted to know how the authorities are staying updated on the latest threats and given the collateral consequences of specific threats, what steps are being taken to ensure that they do not hit Singapore.
Many countries have set up free trade zones (FTZs) to boost business activity and reap the benefits, said MP Shawn Huang. Speaking in Parliament on Wednesday (Oct 4), he noted that FTZs have been instrumental in the evolution of trade in the global economy. As more zones are operated via the hybrid and collaborative model between the Government and private parties, there is a need to enhance and tighten the processes to guard against exploitation, he said. He wanted to know what measures will be taken to ensure that the FTZ operators meet proper data management and cyber security requirements. He also wanted to know how the authorities are staying updated on the latest threats and given the collateral consequences of specific threats, what steps are being taken to ensure that they do not hit Singapore.
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