An integrated IT platform that manages the flow of trade-related information is set to make Singapore more competitive as a world class port and logistics hub. This platform will enable exchange of information between ...
Singapore, 15 June 2004 | For Immediate Release
Integrated IT Platform to Make Trade Information Flows More Efficient
An integrated IT platform that manages the flow of trade-related information is set to make Singapore more competitive as a world class port and logistics hub. This platform will enable exchange of information between shippers, freight forwarders, carriers and financial institutions to facilitate the flow of goods within, through and out of Singapore. Revealing this today at the opening of the Infocomm Media Business Exchange 2004 was Dr Lee Boon Yang, Singapore's Minister for Information, Communications and the Arts.
"Providing a single web interface for all trade-related IT systems, this integrated platform will help logistics players cut down on multiple data entry steps," said Dr Lee Boon Yang. "This means less duplication of manual efforts and reduction in human errors which will ultimately improve efficiency and time to market. The net effect is increased competitiveness for the logistics industry."
This integrated platform will automate the creation and exchange of commercial and regulatory documentation necessary for trade. The government will invest up to S$50 million over five years to develop the platform, which will cover project development expenditure, assistance for industry adoption and other project costs. Existing IT systems such as TradeNet, PortNet, Jurong Port Online, Marinet and the Cargo Community Network which have served the trade and logistics communities well for the past 20 years, will be integrated with the platform. When launched in end 2006, the integrated platform will become the gateway to the new TradeNet system for trade permit applications. Such integration will enhance process and information flow in the entire trade and logistics community which will contribute to improving overall competitiveness of the sector.
A study conducted by The Logistics Institute-Asia Pacific estimates that such an integrated platform can potentially save businesses more than S$700 million over a 20-year period when mass adoption is achieved. The study also concludes that an additional S$4 billion over a 20-year period can be potentially generated from new logistics value-added services created around the platform. Examples of such services include reverse logistics, regional distribution and multi-country consolidation hubs. For the logistics sector, this represents new business opportunities and another avenue to enhance its competitive position.
An Inter-Agency Steering Committee has been formed to oversee the development, implementation and adoption of the services offered under the integrated platform. A tender exercise will be conducted to shortlist qualified vendors for the development of the platform. This will spin off many opportunities for IT solutions providers to build new and innovative technology capabilities.
A User Council, led by the Singapore Economic Development Board (EDB), will be set up to engage the industry throughout the project. This continuous dialogue will ensure the relevance of the integrated platform in meeting industry needs. Members of the User Council will comprise representatives from key user segments such as shippers, carriers, logistics service providers, banks and financial institutions, ports, critical systems, and industry associations.
Please refer to the annex on what some users have to say about the integrated trade and logistics IT platform.
JOINTLY ISSUED BY INFOCOMM DEVELOPMENT AUTHORITY OF SINGAPORE,
SINGAPORE CUSTOMS AND
SINGAPORE ECONOMIC DEVELOPMENT BOARD
Notes to Editor:
1. Singapore has a number of electronic systems that manage the flow of regulatory and commercial information for trade. These include PortNet and Jurong Port Online for sea logistics, Cargo Community Network for air logistics and Marinet for dangerous goods declarations. Most pervasively used is TradeNet, the world's first nationwide electronic trade documentation system which allows the trading community to submit permit applications electronically to the relevant government bodies for processing. TradeNet was launched in January 1989.
2. The Inter-agency Steering Committee members include: Ministry of Finance, Ministry of Transport, Ministry of Trade and Industry, Ministry of Information, Communications and the Arts, Attorney General Chambers, Civil Aviation Authority of Singapore, Singapore Economic Development Board, Infocomm Development Authority of Singapore, Monetary Authority of Singapore, Maritime and Port Authority of Singapore, International Enterprise Singapore, SPRING Singapore and Singapore Customs.
3. Singapore Customs is the policy and business owner of the core IT systems and infrastructure. The Infocomm Development Authority of Singapore will coordinate the development and implementation of the integrated platform's core system and development of value-added services. The Singapore Economic Development Board will take a leading role in promoting the adoption of services offered under the integrated platform.
4. The Logistics Institute (TLI) - Asia Pacific is a collaboration between the National University of Singapore (NUS) and the Georgia Institute of Technology (Georgia Tech) for research and education programs in global logistics. TLI - Asia Pacific is modeled after The Logistics Institute at Georgia Tech, which has wide industry recognition as one of the best institutes for education and research in logistics. This collaboration provides logistics expertise which caters to the logistics needs of the industries across the world today focusing on global logistics, information technology, industrial engineering and supply chain management. For more information, visit www.tliap.nus.edu.sg.
About Infocomm Development Authority of Singapore
The Infocomm Development Authority of Singapore (IDA) develops, promotes and regulates info-communications in Singapore, with the aim of establishing Singapore as one of the world's premier infocomm capitals. To nurture an internationally competitive infocomm industry, IDA offers a comprehensive range of programmes and schemes for both local and international companies. For more information, visit https://www.imda.gov.sg/.
About Singapore Customs
Singapore Customs (SC) is the lead agency on trade facilitation and revenue enforcement matters. It is responsible for collection of customs duty and Goods & Services Tax, and implementation of customs and trade enforcement measures including those related to free trade agreements and strategic goods. For more information, visit www.customs.gov.sg.
About Singapore Economic Development Board
The Singapore Economic Development Board (EDB) is the lead agency that plans and executes strategies to sustain Singapore as a compelling global hub for business and investment. It enables multinational and Singapore-based companies to enhance and upgrade to higher value-creating operations across manufacturing and internationally traded services, in a knowledge-driven globalised economy. For more information, visit www.sedb.com.
For media clarification, please contact:
Infocomm Development Authority of Singapore
Ms CHIA Sher Ling
Tel: 65 6211-1840
Ms WOON Lai Leng
Tel: 65 6355-2129
Singapore Economic Development Board
Ms Vanessa WAN
Tel: 65 6832-6677
Some Industry Views....
"As a partner in this initiative, we can further leverage on real-time information exchange amongst the port authorities, the logistics providers and suppliers to better serve our customers around the world. At HP, we believe that through real-time efficient demand and supply matching we can provide our customers and partners with a positive experience through accurate delivery dates, better inventory management and enhance value creation across the supply chain."
- Jimmy Khoo, Director, Logistics Asia Pacific, Hewlett Packard
"BAX Global sees the Singapore government's initiative as a truly integrated solution that will closer align the respective public and private sector organizations, to offer an even more seamless and efficient transportation product. Besides helping us to reduce further 'time to market' for our customers, this integrated platform will assist us to improve real-time visibility of goods movement throughout the entire supply chain.
This will raise further the level of Bax Global's operational efficiency in Singapore, and in turn allow us to provide an even better logistics solution to meet our customers' regional operation requirements."
- Bob Quirk, General Manager, Logistics Development Asia Pacific, Bax Global
"This initiative is a fitting response to the industry's need for an integrated IT platform that will improve the efficiency of trade and logistics activities in Singapore. I believe it can bring about a quantum leap in Singapore's competitiveness and strengthen its position as the region's logistics and ICT hub"
- Wong Kok Siew, Deputy Chairman and CEO, Sembcorp Industries Ltd