Business investments into Singapore rise 13%

Commitments for investments in fixed assets such as facilities, machinery and other equipment swelled to S$17.2bil (US$13bil) in 2020, well above a medium- to long-term goal of S$8bil to S$10bil, according to data from the Economic Development Board (EDB).

SINGAPORE: Business investment commitments into Singapore rose 13% last year to their highest in more than a decade, helped by sectors such as semiconductors, energy and chemicals even as the city-state suffered its worst recession from the Covid-19 pandemic.

Commitments for investments in fixed assets such as facilities, machinery and other equipment swelled to S$17.2bil (US$13bil) in 2020, well above a medium- to long-term goal of S$8bil to S$10bil, according to data from the Economic Development Board (EDB).