This was a 16 per cent increase from the investments that flowed to Singapore back in 2011, a positive sign given that the global economy remains weak.
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More details are available in the press release below:
EDB records new investment high for 2012, moves into 2013 with cautious optimism
EDB achieved record investment commitments in 2012 as investor interest and confidence in Asia remained strong.
This reflects Singapore's continued attractiveness to businesses. It also demonstrates that Singapore's positioning as a Global-Asia hub as well as EDB's 'Home' strategy continue to resonate strongly with companies looking for a strategic base in Asia to drive their business, innovation and talent activities.
For 2013, EDB's investment forecast reflects a consideration between the cautiousness from the sluggish global economy and the optimism of continued investment interest by companies to tap growth in Asia
In 2012, EDB's Fixed Asset Investments (FAI) and Expected Value-Added Per Annum (VA) exceeded the forecast numbers despite global economic uncertainties, especially in the second half of 2012.
FAI, at $16.0 billion, was an all-time high due partly to significant investments from the Electronics and Energy & Chemicals industries.
The record FAI is a validation of EDB's 'Home' strategy, and reflects the continued strong investment interest by companies to seize long-term growth opportunities in Asia through Singapore. Total Business Expenditure Per Annum (TBE), at $6.2 billion, was at the lower end of the forecast, and reflects the short term cautious business sentiments in 2012.
When investments committed in 2012 are fully implemented, they will contribute a record $20.3 billion in VA, and create 18,600 new skilled jobs, meeting our forecast.
In spite of the uncertain global economy, Singapore's tight labour market and foreign manpower policy adjustments, companies remain confident in Singapore's strong business fundamentals. Singapore's Global-Asia positioning continues to gain traction from both global and Asian companies.
In particular, global companies, both large MNCs and, increasingly, medium-sized enterprises continue to find Singapore attractive as a strategic location to stage their Asian growth from.