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Despite meeting last year’s forecast on fixed asset investment of S$ 10.0 to 12.0 billion with S$11.8 billion in 2014, the republic’s investment numbers last year are down compared to the numbers recorded in 2013, the Economic Development Board revealed Monday (2 February).
The decline is attributed to the increasing uncertainty in the global economic environment.
Last year’s actual fixed asset investments fell by about S$0.3 billion from S$12.1 billion in the previous year. According to EDB, the investments created 16,100 skilled jobs, exceeding its forecast of 14,000 to 16,000, but down from the 21,400 jobs created in 2013.
Meanwhile, EDB’s total business expenditure per annum in 2014 stood at S$7 billion, down from S$7.8 billion in the previous year, while its value-added per annum last year was at S$12.5 billion, a decline compared to the S$16.7 billion in 2013.
This level of investments is expected to moderate further this year with a forecast of between S$9.0 to 11.0 billion in line with Singapore’s stage of economic development.
Furthermore, EDB said it will place greater emphasis on helping existing companies and sectors strengthen their competitiveness and make more productive use of their resources. “We will also explore ways to help Singapore-based companies create new businesses through innovation, and in so doing, generate economic growth and good jobs for Singaporeans.”
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg.
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