ECONOMY, MARKETS & INVESTING | Staff Reporter, Singapore

6 in 10 Singaporean firms plan to increase global investments

More than half of Singaporean business leaders have a positive global outlook.

Six in 10 or 61% of interviewed business leaders in Singapore expect to grow their global footprint in the next three years whilst 62% plan to increase global investments for the next 12 months, according to PricewaterhouseCoopers (PwC) 2017 APEC CEO survey.

Singapore’s openness towards launching their business into the global scene is slightly higher than the APEC average as only 55% consider increasing their global investments.

Compared to their regional peers, the report pointed out that Singapore-based businesses are more exposed to global trade and investment environment.

As such, Singapore CEOs have correspondingly adopted a positive attitude towards digitisation as it leads the APEC average - with 64% of business leaders turning to automation, 54% making greater use of technologies for remote operations and 53% choosing to invest in machine learning and other emerging technologies as their top digital workforce strategies.

The report also pointed to the role of government initiatives in both fueling and giving support to businesses as Singapore aims to remain relevant and competitive in the digital age.

"Technology and increased capital flows are inevitably revolutionising the business landscape in Southeast Asia, and Singapore must continue to seek out its comparative advantage to maintain its unique role within the region," said PwC Asia-Pacific markets leader Sam Kok Kweng. 

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