Singapore saw a rise in investment commitments last year, reaching S$13.5 billion (US$10 billion), up from S$12.7 billion in 2023. The increase was largely driven by key industries such as semiconductors, aerospace, and artificial intelligence, despite economic uncertainties.
According to the Economic Development Board (EDB), these investments are expected to generate 18,700 jobs over the next five years, with about two-thirds of these positions offering a gross monthly salary above S$5,000. The EDB highlighted that companies continue to choose Singapore as a base for headquarters, research, and innovation, while start-ups and global founders are also launching new ventures in the country.
Despite this positive outlook, Singapore’s economy is projected to grow at a slower pace of 1% to 3% compared to last year’s 4% expansion.
In response to easing price pressures and a slowing economy, the Monetary Authority of Singapore recently adjusted its monetary policy for the first time in nearly five years. Analysts believe this policy shift reflects a growing focus on economic growth rather than inflation. Central banks worldwide are also closely monitoring potential U.S. tariffs before making further policy adjustments.
The EDB noted that 2024 will remain challenging for investments due to rising protectionist policies, economic nationalism, and ongoing trade tensions. These factors are expected to influence corporate decisions on where to allocate resources.
However, Singapore’s ability to attract high-value investments in emerging industries like AI and semiconductors reinforces its position as a key global business hub.
