Singapore secured S$3.6b in fixed asset investment commitments in Q2

• Aug 11, 2021

INVESTMENT commitments secured for Singapore in the second quarter of 2021 amounted to S$3.6 billion in fixed asset investment (FAI) and S$1.4 billion in total business expenditure (TBE), according to the latest Economic Survey of Singapore released on Wednesday morning.

The figures refer to investment commitments garnered by the Singapore Economic Development Board. When these projects are fully implemented, they are expected to generate S$3.6 billion of value-added and create more than 5,900 jobs in the coming years.

Manufacturing investments accounted for the largest share of FAI, at S$2.5 billion. Of this, electronics accounted for S$1.3 billion or 36 per cent of overall FAI, while biomedical manufacturing accounted for S$603 million or 17 per cent.

Services accounted for 30 per cent of FAI. Within this sector, the research and development cluster attracted the most, at S$594 million.

Investors from the United States contributed more than half of total FAI, at S$2.1 billion.

In terms of total business expenditure, the services clusters attracted the highest amount of commitments, at S$823 million. This was led by the headquarters and professional services, which accounted for about a third of total TBE at S$445 million, as well as research and development cluster, accounting for 17 per cent at S$227 million respectively.

Electronics accounted for 13 per cent of TBE or S$178 million, while biomedical manufacturing accounted for S$142 million.

US investors were also the largest source of TBE commitments, with commitments of S$494 million or 36 per cent of the total.

Source: https://www.businesstimes.com.sg/government-economy/singapore-secured-s36b-in-fixed-asset-investment-commitments-in-q2