Despite global economic uncertainties and trade tension among elite countries bringing productive level to 2009, investments performance in the Republic has been stable still. In the first half of the year, the city state managed to pull in as much as S$8.1 billion of Fix Asset Investment, data shown by Economic Development Board (EDB).
Manufacturing Sector was Most Invested
Manufacturing sector coming out first and concluded S$4.6 billion of investment commitments in the first 6 months of 2019. Out of which, electronic segment took in almost two-thirds of the investment secured. The rest of the major contributors are from chemical, precision engineering, biomedical, transport and general manufacturing industries, pulling in S$1.8 billion.
At the same time, services industry also secured another S$3.5 billion for the same period. Singapore is among the top 3 sources of the investment commitments, standing level with US and Europe.
Singapore Investment Horizon Remains Resilient
According to EDB chairman Beh Swan Gin, the investment pipeline in Singapore is expected to be resilient despite uncertainties this year. Dr. Beh noted that Singapore proposition is very attractive with its systematic governance.
Excellent Investment Reputation
Singapore has cut the growth forecast for the second time after a flat performance in the second quarter. However, Prime Minister Lee Hsien Loong mentioned in his National Day Rally speech that the country continue attracts major investments. For instance, Finnish oil company Neste just announce S$2.15 billion expansion plan for its renewable energy facilities in Singapore. The company CEO chose Singapore as their destination due to good geography and business environment including its workforce. On the other hand, this has also shown Singapore’s excellent reputation among investors, said the prime minister.
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