Investments expected to moderate this year: EDB
CBD skyline. TODAY file photo
SINGAPORE — The Economic Development Board (EDB) is adopting a more selective approach to investment this year in a bid to ensure more sustainable growth amid the ongoing economic restructuring, a move that is projected to result in the creation of fewer skilled jobs.
Investment commitments for the year ahead are expected to be at moderate levels due to growing uncertainty in the global economic environment, the EDB said today (Feb 2).
Last year, Singapore’s fixed asset investments (FAI) came in at S$11.8 billion, in line with the EDB’s forecast of S$10 billion to S$12 billion.
For the year ahead, EDB has forecast that FAI will range between S$9 billion and S$11 billion.
The lower projection is in line with the trend of a more moderate flow of investments since 2013, the EDB said. In 2013, FAI was S$12.1 billion.
For growth strategies this year, the EDB intends to help existing companies and sectors strengthen their competitiveness and make more productive use of their resources.
“We will explore ways to help Singapore-based companies create new businesses through innovation, and in doing so, generate economic growth and good jobs for Singaporeans,” the EDB said.
The government agency will also sharpen its focus on attracting investment projects that are in line with the Republic’s growth strategy.
