MPA [Maritime and Port Authority of Singapore] is developing the Maritime Singapore Master Plan, an industry-wide blueprint to guide the sector’s longer-term development. Targeted for release in 2027, the Master Plan will outline strategies and plans to: strengthen Singapore’s competitiveness as a global hub port; enhance Singapore’s attractiveness as an International Maritime Centre; grow Singapore as a centre for maritime technology, innovation, including in Artificial Intelligence, and R&D; and develop a skilled maritime workforce.
Recognising that talent development is crucial for maintaining Singapore’s status as a leading maritime hub, MPA will introduce the Maritime Cluster Fund – Global Rotation (MCF-GR). This new initiative will co-fund the overseas deployment of local middle managers when they take on regional or global supervisory roles. These assignments provide local maritime professionals greater exposure to international operations while building leadership capabilities in multi-cultural environments.
To reinforce Singapore’s position as a global centre for maritime innovation, MPA will introduce a new innovation track under the Maritime Cluster Fund – Business Development (MCF-BD) scheme. The new track aims to attract maritime companies to anchor their innovation and technology leaders, product teams, and corporate venture capital (CVC) functions in Singapore.
See also: Singapore develops master plan to strengthen maritime competitiveness
As mentioned by Singapore’s acting minister for transport, the country is also investing in port capacity.
When completed in the 2040s, Tuas Port will have a capacity of 65m TEUs, and be the world’s largest fully-automated container terminal.