Singapore expects less investment in 2013

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Raffles Place in Singapore
Office workers crossing Raffles Place in Singapore

The city state of Singapore is targeting 11-13 billion Singapore dollars of investment commitments in manufacturing and services in 2013, compared with S$16 billion in 2012, the country’s Economic Development Board said on January 28.

The planned capital investment in Singapore is likely to  fall as the government’s curbs on foreign labour and increasingly scarce land for development chill investor interest. Another reason are generally high business costs.

Investment commitments will remain in the S$11-13 billion range over the next five years or so, said Leo Yip, chairman of the board.

Singapore last year tightened restrictions on foreign workers, partly to address concerns that Singaporean wages aren’t rising fast enough to keep pace with the cost of living. The resulting tighter labor market has raised costs for businesses.

In addition to foreign labour limits, the shrinking amount of land available for development in the island nation also poses a challenge to those looking to invest.

Singapore, which has been ranked the easiest place to do business for seven straight years by the World Bank, is competing with lower-cost countries such as neighbors Malaysia and Indonesia for foreign investment as an uneven global recovery hurts demand for exports.

 

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Reading Time: 1 minute

Office workers crossing Raffles Place in Singapore

The city state of Singapore is targeting 11-13 billion Singapore dollars of investment commitments in manufacturing and services in 2013, compared with S$16 billion in 2012, the country’s Economic Development Board said on January 28.

Reading Time: 1 minute

Raffles Place in Singapore
Office workers crossing Raffles Place in Singapore

The city state of Singapore is targeting 11-13 billion Singapore dollars of investment commitments in manufacturing and services in 2013, compared with S$16 billion in 2012, the country’s Economic Development Board said on January 28.

The planned capital investment in Singapore is likely to  fall as the government’s curbs on foreign labour and increasingly scarce land for development chill investor interest. Another reason are generally high business costs.

Investment commitments will remain in the S$11-13 billion range over the next five years or so, said Leo Yip, chairman of the board.

Singapore last year tightened restrictions on foreign workers, partly to address concerns that Singaporean wages aren’t rising fast enough to keep pace with the cost of living. The resulting tighter labor market has raised costs for businesses.

In addition to foreign labour limits, the shrinking amount of land available for development in the island nation also poses a challenge to those looking to invest.

Singapore, which has been ranked the easiest place to do business for seven straight years by the World Bank, is competing with lower-cost countries such as neighbors Malaysia and Indonesia for foreign investment as an uneven global recovery hurts demand for exports.

 

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