Lee seen spending $8 billion on ports as support falls: Freight

As part of Prime Minister (PM) Lee Hsien Loong’s push for an economic and popular revival, Singapore plans to almost double its container port capacity after Shanghai overtook the nation to become the world’s busiest harbour. The country has been facing rising competition from neighbouring ports, greater congestion as its population is set to climb toward 6.9 million by 2030 and record property prices that add pressure for more homes on an island smaller than New York City. The harbour plan shows the island isn’t running out of space or potential, shared PM Lee. “These long-term plans are a response to Singaporeans who are genuinely concerned about whether Singapore does have the room and the ability to take on 6.9 million people,” said SMU Associate Professor of Law and NMP Eugene Tan. “These projects are needed and if you can generate economic growth out of it, if you can generate political legitimacy out of it, why not?”

Source
Bloomberg