MoF seeks public feedback on proposed amendments to the free trade zones bill

The bill enables better oversight of goods flowing through FTZs.

The Ministry of Finance (MoF) has called on the public to provide their opinions on the proposed legislative amendments to the Free Trade Zones (FTZ) Act 1966.

Amongst changes proposed under the amendment bill are the introduction of a licensing regime for FTZ operators and cargo handlers, which will specify the responsibilities of the involved parties; requirements for FTZ operators, cargo handlers and shipping agents to collect and transmit relevant information to authorised persons, if necessary, to improve cargo visibility within the FTZ; and provisions to ensure the confidentiality of data furnished.

“The proposed amendments in the draft FTZ (Amendment) Bill seek to enable better oversight of goods flowing through our FTZs while still ensuring efficient movement of goods,” the MoF stated.

The public may send their feedback to the MoF until 9 April through the FormSG link (www.go.gov.sg/ftz-bill) in the REACH portal.

Further information about the bill can be found on the Ministry of Finance’s website (www.mof.gov.sg) and the REACH consultation portal (www.reach.gov.sg).