Investments into Singapore Hit US$10b Last Year on Chip & AI Pledges
The Edge | 6 February 2025
(Feb 6): Investments into Singapore last year rose to S$13.5 billion (US$10 billion or RM59.75 billion) from S$12.7 billion in 2023, driven by pledges from sectors including semiconductors, aerospace and artificial intelligence (AI) despite a tough business environment.
The commitments are expected to create 18,700 jobs over the next five years, according to the Economic Development Board (EDB), the country’s investment promotion agency. About two-thirds of those jobs are likely to have a gross monthly wage above S$5,000.
“Companies continued to demonstrate strong interest in locating and expanding headquarters functions, as well as research and development and innovation activities here,” the EDB said in a statement on Thursday. “Singapore also gained traction with start-ups and founders from around the world, which have launched new ventures here.”
The city state’s economy is forecast to expand at a slower pace of 1%-3% from last year’s 4% growth. The central bank recently loosened its monetary policy settings for the first time in nearly five years, citing expectations of abating price pressures and slowing growth momentum.
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