24 Jan '11, 7am

S'pore surpasses FAI forecast in 2010

SINGAPORE: Singapore achieved record high investment commitments last year and this momentum is expected to continue into this new year. The Economic Development Board (EDB) said international firms invested S$12.9 billion in fixed assets such as facilities and equipment last year. This surpassed EDB's fixed asset investment forecast of between S$10 billion and S$12 billion in 2010. When the investment projects committed in 2010 are fully implemented, EDB said it will create a record number of 21,300 new skilled jobs. It will also contribute S$14.4 billion in value-added per year to the country's economic growth. This is the second highest achieved ever. The highest value-added expected to be generated from investments here was in 2008 with S$14.7 billion. EDB said the economic rebound and prevalence of growth opportunities in Asia spurred companies to step up their invest...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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