Strong foreign investment commitments to Singapore
Despite strong economic headwinds and the US-China trade tensions, Singapore has managed to attract an unexpectedly large amount of investment commitments in the first half of this year.
According to the Economic Development Board (EDB), the city state received $8.1 billion in investment commitments in manufacturing and services, clearly more than the $5.3 billion worth of investment commitments it had drawn for the same period last year.
The figure also falls already within EDB’s $8-billion to $10-billion full-year forecast. Last year, the country drew $10.9 billion in investment commitments – a number that looks well within reach.
Top foreign investors this year so far were from the US and Europe. Technology firm Micron, social media giant Facebook and British home appliance maker Dyson are just a few of the prominent companies that have set up branches in Singapore.
Economists attributed the strong investment figures to Singapore’s continued attractiveness as a place for global multinational corporations. This includes factors such as the city-state’s political stability, business-friendly environment, skilled workforce as well as well-developed infrastructure and connectivity.
In addition, Singapore is benefiting from shifts in global supply chains as a result of the US-China trade war.
Despite strong economic headwinds and the US-China trade tensions, Singapore has managed to attract an unexpectedly large amount of investment commitments in the first half of this year. According to the Economic Development Board (EDB), the city state received $8.1 billion in investment commitments in manufacturing and services, clearly more than the $5.3 billion worth of investment commitments it had drawn for the same period last year. The figure also falls already within EDB’s $8-billion to $10-billion full-year forecast. Last year, the country drew $10.9 billion in investment commitments – a number that looks well within reach. Top foreign investors...
Despite strong economic headwinds and the US-China trade tensions, Singapore has managed to attract an unexpectedly large amount of investment commitments in the first half of this year.
According to the Economic Development Board (EDB), the city state received $8.1 billion in investment commitments in manufacturing and services, clearly more than the $5.3 billion worth of investment commitments it had drawn for the same period last year.
The figure also falls already within EDB’s $8-billion to $10-billion full-year forecast. Last year, the country drew $10.9 billion in investment commitments – a number that looks well within reach.
Top foreign investors this year so far were from the US and Europe. Technology firm Micron, social media giant Facebook and British home appliance maker Dyson are just a few of the prominent companies that have set up branches in Singapore.
Economists attributed the strong investment figures to Singapore’s continued attractiveness as a place for global multinational corporations. This includes factors such as the city-state’s political stability, business-friendly environment, skilled workforce as well as well-developed infrastructure and connectivity.
In addition, Singapore is benefiting from shifts in global supply chains as a result of the US-China trade war.
