ECONOMY | Staff Reporter, Singapore

Singapore to lure $8b-$10b worth of investments for 2018

The expectations didn't change from 2017 levels as global economic woes persist.

The Singapore Economic Development Board (EDB) expects Singapore to lure in $8b-$10b worth of fixed asset investments (FAI) in 2018, which isn't much of a change from last year's expectations.

According to its yearly review, EDB anchored $9.4b worth of FAI and $6.5b worth of total business expenditure per annum (TBE) to Singapore in 2017. Both figures were within the forecast range for the year.

When these projects are fully implemented, they will create 22,500 new jobs, exceeding the forecast range of 19,000-21,000 jobs, with an expected contribution of $17.2b in Value-Added Per Annum (VA).

The forecast for 2018 is expected to be sustained at 2017 levels, as the recovery in global aggregate demand and steady growth in Asia are tempered by continued uncertainties in the global environment.

EDB chairman Beh Swan Gin said, "EDB will also continue to focus on industry transformation, and help companies stay competitive through the adoption of, and innovation in, advanced manufacturing, and digital technologies."

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