ALLOCATION EFFICIENCY OF INDUSTRIAL LAND
TAN LAY CHIUN JUSTINE
TAN LAY CHIUN JUSTINE
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Abstract
In the course of its industrialisation, Singapore has always had to grapple with the scarcity of industrial land. This has resulted in comparatively higher land costs, a disadvantage that can only be countered through the provision of sophisticated and reliable facilities.
To address the issue of industrial land scarcity, the industrial land bank has been gradually increased over the years through reclamation and acquisition. However, as its small size is Singapore's congenital shortcoming, the ability to significantly increase the supply of industrial land is an impossibility. A more practicable alternative is to ensure that despite its scarcity, the amount of land available for industrial development is
adequate for sustaining Singapore's economic growth.
This entails the efficient use of existing industrial land. Given the increasing importance of allocating industrial land judiciously and efficiently in accordance with Singapore's economic policies, the allocative efficiency of industrial land has been chosen as the subject of this study.
The industrial land allocation policy is discussed and a survey of an existing industrial estate is conducted to evaluate the efficiency of land allocation within the estate. It is found that inefficiencies exist. One of the causes is the inability of the many SMEs located in the estate to upgrade to be in line with the industrial structure advocated by the government. The government thus needs to render assistance to improve the situation.
As the land is not efficiently allocated, this calls for a need to recycle the land so as to enable better utilisation of scarce resources which will create greater economic benefits for Singapore.
Keywords
industrial land, scarcity, efficiency, allocation, economic
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Date
1997
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