MPA makes maritime sector investment announcement
Maritime and Port Authority of Singapore (MPA) announced Friday it is continuing its investment to develop the country as an international maritime centre with enhancements to the existing Maritime Cluster Fund (MCF) and an exemption of Maritime Welfare Fees, Ship & Bunker reports.
MPA said that in response to industry feedback and on-going efforts to provide a pro-business environment for maritime businesses and establishments in Singapore, effective October 2012 it will exempt vessels with a port stay of not more than five days from the payment of Maritime Welfare Fees.
In effect for a period of five years, the scheme is expected to cost MPA an estimated S$7 million ($5.7 million) a year, according to the press release.
MPA said that despite the exception it will continue to provide a range of welfare facilities and activities for visiting seafarers.
Co-funding support under the MCF for Training@MaritimeSingapore, Talent@MaritimeSingapore and InvestManpower@MaritimeSingapore will also be increased from the current 50 percent to 70 percent effective October 2012 for a period of three years at a cost of S$2 million (1.6 million) per year.
"The enhancements to the Maritime Cluster Fund's Manpower Schemes are part of MPA's efforts to develop a sustainable pool of skilled talent for the maritime industry. Through the exemption of the Maritime Welfare Fees, we hope that we can help reduce the operating costs of vessels calling at our port," said Mr Lam Yi Young, MPA's Chief Executive.
"These initiatives are part of our long-term commitment to provide a conducive environment for maritime companies in Singapore," he added.
