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Singapore’s investment landscape shows resilience

Singapore’s Economic Development Board (EDB) announced a SGD12.7bn investment in 2023, surpassing its medium-to-long term targets but marking a decrease from 2022’s record SGD22.5bn. The decline aligns with the five-year average, reflecting a diversified economic shift with chemicals leading FAI commitments. Total Business Expenditure (TBE) rose to SGD8.9bn, indicating the nation’s growing role as a regional services hub. Over 20,000 jobs are expected to be created, mainly in professional and technical sectors. The US remains the top FAI source, with Europe following. Despite 2024’s challenging outlook due to global uncertainties, Singapore focuses on emerging sectors like green economy and AI. The EDB’s proactive approach underlines its position as a key player in advanced manufacturing and services in South-east Asia.


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