EDB secures $22.5b in fixed asset investment commitments in 2022

The electronic sectors accounted for two-thirds of FAI commitments for the year.

The Singapore Economic Development Board (EDB) ended 2022 with a record-high fixed asset investment (FAI) commitment of $22.5b.

In a report, EDB said the electronics sector had the biggest contribution, accounting for around two-thirds of FAI commitments.

“The sector saw an exceptional inflow of large manufacturing projects in the first half of the year,” EDB commented.

Looking ahead, the statutory board said it does not expect the same level of FAI commitments in 2023 due to global macro-uncertainties, increased global competition for investments, and the sharp slowdown in demand that the semiconductor industry is experiencing.

Meanwhile, EDB also reported a $6.2b Total Business Expenditure per annum (TBE) commitment for 2022.