The Civil Aviation Authority of Singapore (CAAS) has established a fund to promote development of Singapore's aviation industry and it wants to work more closely with industry organisations.

Today the CAAS announced it has established the S$100 million ($71 million) Aviation Development Fund that over the next five years will provide industry incentives to encourage "development of capabilities in the Singapore aviation industry".

It also says it has signed MoUs with the Association of Aerospace Industries and the Singapore Institute of Aerospace Engineers to ensure the parties collaborate "to build the aviation cluster in Singapore".

It also says it has signed a MoU with the Infocomm Development Authority of Singapore, IATA, the Singapore Aircargo Agents' Association, the Singapore National Shippers' Council and the Singapore Logistics Association to promote the adoption of paperless air freight processes and improvements in logistics.

Source: Air Transport Intelligence news