Singapore’s logistics industry, which makes up 5.5% of the economy, is holding steady despite the global economic downturn. It managed to attract S$481 million (US$347.5 million) in business spending last year, a dip of only 0.6% from 2008, while foreign companies’ expansion brought in 1,240 more skilled jobs — an increase of 50% over the same period. Singapore’s Economic Development Board (EDB) suggested Singapore could further enhance the industry by developing more efficient and lower carbon footprint methods, and then marketing these ideas to innovation-hungry logistics companies in other parts of the world.

source & article: Channel NewsAsia