Government of the Republic of Montenegro

11/27/2024 | Press release | Distributed by Public on 11/27/2024 04:01

Singapore’s “Port of the Future” eyes collaboration with Port of Bar

With only a few hundred workers managing millions of containers and hundreds of ships across 1,337 hectares (equivalent to about 3,200 football fields), Singapore's "Port of the future" demonstrates the efficiency of cutting-edge automation.

Prime Minister Milojko Spajić witnessed this remarkable operation firsthand during his visit to the Tuas Port. Following his meeting with Singapore's Minister of Trade Relations, Grace Fu, PM Spajić toured the ambitious project aimed at transforming Tuas into the world's largest automated port. In just a year, the port increased its capacity by 40% while reducing greenhouse gas emissions by utilizing renewable energy. The goal is to make the port carbon-neutral by 2050.

We are a small country with a limited domestic market, but by combining our port and airport, we've attracted numerous major international companies. This connectivity has fueled our economic growth, and now we are enhancing it further with modern technologies like those implemented at Tuas, said Minister Fu, who also oversees sustainability and environmental issues in Singapore's government.

Singapore's port operations span 45 countries, 179 locations, and 66 terminals. CEO of PSA International Ong Kim Pong expressed interest in collaborating with Montenegro's Port of Bar, which has the potential to become a major hub for the Balkans and beyond.

The Port of Bar has not been utilized to its full potential, but it holds great promise. It is connected by rail to EU countries, and with EU financial support, we are investing in infrastructure reconstruction. The construction of highways will further enhance connectivity, allowing us to unlock the full capacity of Bar's port, PM Spajić noted.

Singapore's port continues to attract significant foreign direct investment, a success attributed to the country's robust governance and business-friendly environment. Minister Fu explained why companies favor operating in Singapore.

Companies trust Singapore's system to operate by the rules and without corruption, which is our greatest strength. For instance, if you want to establish a business in Southeast Asia, Singapore offers the expertise and guidance to get started, making it the launchpad for major regional projects, Fu emphasized.

Prime Minister Spajić underscored that Montenegro, as a small country, must increase its appeal to international markets. Strengthening the rule of law, he said, will transform Montenegro's image and attract credible multinational companies.