Fixed asset investment commitments rose by S$0.8bil to S$13.5bil. — Reuters
SINGAPORE: Singapore drew S$21.9bil (US$16.2bil) in investment commitments in 2024, slightly higher than 2023, according to the Economic Development Board (EDB) as it flagged challenges in 2025 from geopolitical and economic uncertainty.
Fixed asset investment (FAI) commitments rose by S$0.8bil to S$13.5bil, while total business expenditure (TBE) per annum commitments fell by S$0.5bil to S$8.4bil, the EDB said in a statement.
The manufacturing sector accounted for S$11.1bil of the FAI commitments, led by investments in semiconductors and biomedical manufacturing, while TBE investment was driven by investment in headquarters and professional services.
“We anticipate significant headwinds from geopolitical and macroeconomic uncertainty,” the EDB said of the investment environment this year.
“Protectionist policies stemming from economic nationalism and trade frictions will weigh on companies’ investment decisions.”
The EDB said that when the 2024 investment commitments are realised over the coming five years, they were expected to create 18,700 jobs. — Reuters
