Covid-19 to accelerate shifts in global supply chains but Singapore can still play to strengths

Mindy Tan

Published Tue, May 26, 2020 · 09:50 PM

Singapore

THE COVID-19 pandemic will accelerate shifts in global supply chains; and while there is no telling how supply chains will eventually be reconfigured, it is likely that they will be relocated nearer to final demand markets, said Minister for Trade and Industry (MTI) Chan Chun Sing.

The outlook for outward-oriented sectors - such as manufacturing and those related to trade and logistics - remain weak, adversely affected by the sharp slowdown in many of Singapore's key markets, he noted.

That being said, as we adjust to the new environment, there will be opportunities to fill unmet demand and participate in new supply chains that are formed, said Mr Chan in Parliament on Tuesda…