Sea zones and floating cities: a prime opportunity for Singapore
The Republic needs to transform its international economic relevance by developing itself as an Indo-Asia Pacific super-connector. Floating charter cities in special zones can help.
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SINGAPORE needs to fundamentally transform its international economic relevance through a focus on developing itself as an Indo-Asia Pacific super-connector. And this can be achieved through hosting floating charter cities (FCCs) in special governance zones.
Beijing's ambitions to transform the Greater Bay Area into an integrated economic and business hub will impact Singapore. This hub will encompass Hong Kong, Macau, Guangzhou, Shenzhen, Zhuhai, Foshan, Zhongshan, Dongguan, Huizhou, Jiangmen and Zhaoqing.
Touted as a rival to Silicon Valley and other regional commercial centres across Asia, it directly competes with Singapore's role as an Indo-AsiaPac command and control centre for international corporations. While nebulous, Beijing's plans to develop the Greater Bay Area are seen as a hedge against a slowing domestic economy and growing global protectionism. US investment bank Morgan Stanley predicts that by 2030, with a population forecast to reach 71 million, the region's GDP will grow to US$3.2 trillion.
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