Singapore Budget 2018: Maritime industry gets S$100m more for transition to digital, automated future
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
THE Maritime and Port Authority of Singapore will top up its Maritime Cluster Fund by S$100 million to help the industry test-bed and embrace new technologies as well as groom talent for a digital and automated maritime future.
Senior Minister of State for Transport, Dr Lam Pin Min said at the committee of supply debate on Wednesday that MCF is expected to support about 30 new projects and benefit some 5,000 people annually. This latest injection will lift the total investment since 2007 under MCF to S$285 million.
Dr Lam who is also the Senior Minister of State for Health, added that the Maritime Transformation Map (MTP) Programme, that will be rolled out over the next few months, will co-fund, with matching investments from industry partners, the development of technology with high potential for industry application.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS
Higher costs, lower returns: Why are Singaporeans still betting on real estate?
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
Loyang Valley sold for S$880 million to SingHaiyi-led consortium
