NOVEMBERASIA BUSINESS OUTLOOK19Ranked by the World Bank as Asia's top logistics hub for 10 years in a row, Singapore offers world-class connectivity to the region and beyond. The unprecedented boom in regional cross-border trade and consumption strengthens Singapore's relevance as a secure, highly efficient logistics and supply chain management hub. Singapore is a major logistics hub ranked first in the world for logistics competence and timeliness of services, and second in Asia on the World Bank's Logistics Performance Index. An important pillar of the Singapore economy, the logistics sector contributed a value-add of S$6.8 billion in 2018 and generated more than 86,300 jobs. It connects key supply chain nodes to facilitate efficient trade flow domestically and internationally.Our homegrown logistics companies have built up specialized capabilities to support key industries such as food, healthcare and pharmaceutical, oil & gas, infrastructure and construction, retail, electronics and high tech. They have also adopted robust technological solutions for lean and efficient logistics operations. Global developments, including China's Belt And Road Initiative (BRI) and the relocation of manufacturing bases within Southeast Asia, have driven more Singapore firms to expand operations regionally and beyond, to capture new trade flows. Countries that our companies have ventured to include Malaysia, Indonesia, Thailand, Vietnam, China, Australia, and New Zealand.In 2022, the refreshed Logistics ITM 2025 was launched to position Singapore as a world-class logistics hub in Asia, where companies build innovative capabilities to keep the world's goods moving. It also seeks to strengthen Singapore's role as a critical node in global supply chains. Through the ITM efforts, the industry is expected to achieve an annual value-added growth of 2 percent to S$6.9 billion and introduce 2,000 new jobs by 2025.Asia Business Outlook in this issue presents a list of `Top 10 Logistics Companies in Singapore­ 2022' who have leveraged their extensive industry expertise and experience in offering high-quality Logistics services. The following list has been prepared after being closely scrutinized by a distinguished panel of judges including CXOs, analysts and our editorial board. We recognize their valuable contribution to the ever expanding and competitive market and their ability to sustain themselves and emerge as top contestants through their reliable products.TOP 10 2022LOGISTICS COMPANIESIN SINGAPORE
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