Workers' Party suggests special economic zone around NTU with lower land costs

Workers' Party (WP) lawmakers tabled a motion in Parliament calling for a special economic zone (SEZ) centred on Nanyang Technological University (NTU). The proposal seeks to offer lower land lease rates and targeted incentives to attract research‑intensive firms and accelerate Singapore's transition to a knowledge‑based economy. Singapore’s limited land supply and high property prices have long constrained large‑scale campus‑linked developments, prompting WP to argue that a dedicated zone could lower costs for start‑ups and multinational R&D labs. The motion cites the success of earlier SEZs such as Jurong Island, which transformed a former swamp into a petrochemical hub, and suggests a similar model could be adapted for high‑tech and green‑technology clusters near NTU’s campus. Government ministries have not yet issued a formal response, though senior officials indicated they would review the proposal alongside the Ministry of Trade and Industry’s future‑economy roadmap. Industry groups, including the Singapore Business Federation, welcomed the idea of more affordable land but cautioned that any tax or rent concessions must be balanced against fiscal sustainability. The motion will be debated in the next parliamentary session, after which a feasibility study may be commissioned to assess land‑use implications and potential economic returns.