Singapore's fixed asset investments hit $15.2b in 2019

Large manufacturing investments came from semiconductor and energy companies.

Singapore attracted fixed asset investments (FAI) of $15.2b in 2019, according to data from the Economic Development Board (EDB). Total business expenditure per annum (TBE) hit $9b at the same time.

These investments are expected to create 32,814 new jobs in the coming years when the projects are fully implemented, with a projected contribution of $29.4b in value-added per annum (VA). Nearly half (49%) of the jobs will be digital roles.

“Large manufacturing investments came from semiconductor as well as energy & chemical companies,” EDB said.

In the medium to long term, EDB is aiming to attract FAI of $8-10b per annum, as well as TBE of $5-7b. “Although the global operating environment remains uncertain, we are cautiously optimistic that the investment flows in 2019 will continue into 2020 and bring good business and job opportunities for Singapore and Singaporeans,” EDB chairman Beh Swan Gin said.