Fixed assets investments deliver US$9.8bil returns

Challenging environment: Residents play checkers in the Chinatown of Singapore. Ahead of the Lunar New Year, the Economic Development Board says the chemicals sector took the lead in fixed asset investment commitments at about 35%. — AFP

SINGAPORE: The republic attracted S$12.7bil (US$9.48bil) in fixed assets investments in 2023 amid a challenging global environment that impacted business and investor sentiment, the Economic Development Board (EDB) says.

This marked a decrease from S$22.5bil in 2022, which can be attributed to the slowdown in demand for semiconductors.