The ASEAN Economic Community (AEC) will spell greater competition for the logistics sector in Singapore, according to a report by CBRE. CBRE said that rising logistics hubs in Vietnam, Thailand and Malaysia will compete more keenly with Singapore as a result of the AEC.
Despite this, Singapore’s location at the heart of Southeast Asia will give logistics operators the opportunity to tap into multiple markets.
“Singapore benefits from its reputation as a global logistics hub with strong expertise in the sector. Its position could be bolstered further [by the] AEC and TPP by facilitating freer movement of goods and create business opportunities,” said the report.