“Generally, in times of uncertainty and volatility, there will be a flight to safety,” Singapore Economic Development Board Chairman Beh Swan Gin said. —Singapore is benefiting from a “flight to safety” in uncertain times and a “regionalisation” of supply chains, according to the city-state’s Economic Development Board.
Beh highlighted how Chinese tech companies are now among firms relocating to Singapore as Beijing reins in the sector’s influence. The pandemic also helped reveal the “concentration risk” of supply chains that many companies face. That’s triggering a “regionaliSation” of supply chains that is “absolutely” benefiting Singapore and Southeast Asia, which have “a very sizable and very competitive manufacturing industry.”On cryptocurrency firms: “If they are not prepared to be on the right side of our regulations, it would be very difficult for them to find Singapore hospitable for their own ambitions.
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