Singapore attracted S$16 billion worth of fixed asset investments in 2012, up 16 percent from the previous year, attributed mainly to strong investor interest and confidence in Asia, according to the Economic Development Board (EDB).
In a statement, the government agency said: “This reflects Singapore’s continued attractiveness to businesses. It also demonstrates that Singapore’s positioning as a Global-Asia hub, as well as EDB’s ‘Home’ strategy continue to resonate strongly with companies looking for a strategic base in Asia to drive their business, innovation and talent activities.”
The figures beat EDB’s previous forecast of S$13.0 billion to S$15.0 billion. Once fully realised, these investments will create 18,600 skilled jobs and a record S$20.3 billion in value added per annum.
“In spite of the uncertain global economy, Singapore’s tight labour market and foreign manpower policy adjustments, companies remain confident in Singapore’s strong business fundamentals. Singapore’s Global-Asia positioning continues to gain traction from both global and Asian companies,” noted the agency.
This year, EDB is “cautiously optimistic” on investment commitments, with a low forecast of S$11.0 billion to S$13.0 billion.
“As we move into 2013, despite the challenges of the global economy, Singapore remains at the heart of a vibrant Asia that is growing. There continues to be good business opportunities that Singapore will do well to capture, that can help secure our economic future for a long time to come,” said Leo Yip, Chairman of EDB.
Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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