Singapore attracted record S$22.5 billion in fixed asset investments last year, nearly double of 2021

Singapore News News

Singapore attracted record S$22.5 billion in fixed asset investments last year, nearly double of 2021
Singapore Latest News,Singapore Headlines
  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 52 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 66%

More than 17,000 jobs are expected to be created in the coming years from investment commitments.

SINGAPORE: Singapore attracted a record high of S$22.5 billion in fixed asset investments last year, which is set to create more than 17,000 jobs in the coming years, the Economic Development Board said on Thursday .

"This outperformance relative to our goals was due to the exceptional influx of large manufacturing projects to meet the surge in global semiconductor demand, particularly during the first half of 2022," said EDB managing director Jacqueline Poh at a media briefing. Singapore also secured S$6.2 billion in total business expenditure last year, higher than the S$5.2 billion in 2021. Both figures are within the EDB’s targets of between S$5 billion and S$7 billion.

"More global businesses clearly use Singapore as a hub to build resilience in their operations, as well as to access regional and global markets," Ms Poh said.Looking ahead, the EDB said it does not expect the same level of investments this year due to global macro uncertainties, intensifying competition for investments and a sharp slowdown in demand in the semiconductor industry.

Singapore's own commitment to decarbonisation also means it needs to be more selective in attracting investments that are energy intensive.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

ChannelNewsAsia /  🏆 6. in SG

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SCDF, Singapore Red Cross to send help to Türkiye and Syria following deadly earthquakeSCDF, Singapore Red Cross to send help to Türkiye and Syria following deadly earthquakeSINGAPORE: The Singapore Civil Defence Force (SCDF) and Singapore Red Cross (SRC) announced on Tuesday (Feb 7) that they would provide humanitarian assistance in light of a devastating earthquake that
Read more »

Real median household income in Singapore rose slightly in 2022 to S$10,099Real median household income in Singapore rose slightly in 2022 to S$10,099SINGAPORE — Median household income in Singapore grew 0.2 per cent in 2022 after accounting for inflation, in figures released on Thursday (Feb 9) by the Singapore Department of Statistics.
Read more »

NUS student thinks she’ll earn $10,000/month after graduation - Singapore NewsNUS student thinks she’ll earn $10,000/month after graduation - Singapore News‘Young generation think they’re entitled to these salaries with no work experience’ — Netizens
Read more »

Morning Digest, Feb 7 - Singapore NewsMorning Digest, Feb 7 - Singapore NewsHere are the top stories you might've missed...
Read more »

WP MP Louis Chua on Singapore’s housing issues: ‘Insanity is doing the same thing over and over again and expecting different results’ - Singapore NewsWP MP Louis Chua on Singapore’s housing issues: ‘Insanity is doing the same thing over and over again and expecting different results’ - Singapore News'This saying is usually attributed to Albert Einstein, but one might argue also appears to be the current approach to the multitude of housing-related issues we are seeing in Singapore today,” he said.
Read more »

Singapore security agency's 'forced demotion' of 300 officers prompts union actionSingapore security agency's 'forced demotion' of 300 officers prompts union actionThe manpower ministry also stepped in after the company extended its officers' working hours.
Read more »



Render Time: 2025-03-16 17:54:42