Photo: Marcus Hand The disruption in the supply chain by Covid-19 and the blockage of the Suez Canal have driven talk of in-shoring but Singapore believes it will not be possible for countries to unwind globalisation.
Speaking at the opening of the 15
th Singapore Maritime Week (SMW) Singapore Transport Minister Ong Ye Kung noted renewed importance of resilience in the light of supply chain disruption caused by Covid-19 and more recently the blockage of the Suez Canal by the grounding of the Ever Given.
“To prepare for future disruptions, there have been talks of in-shoring, to reduce the reliance on foreign supplies, focus more on ‘just-in-case’ and less on ‘just-in-time’,” Minister Ong said.