Singapore draws $12.7b in fixed asset investments in 2023

On January 30, 2024, The Republic attracted $12.7 billion in fixed asset investments in 2023 amid a challenging global environment that impacted business and investor sentiment, the Economic Development Board (EDB) said on Jan 30.

In 2023, the chemicals sector took the lead in fixed asset investment commitments, accounting for about 35 per cent of the total, followed by electronics at 24.2 per cent, and research and development at 16.6 per cent.

In all, the projects secured in 2023 are expected to create 20,045 new jobs when they are fully implemented in the next few years. Of the jobs to be created, 58 per cent are in services, 26 per cent in research and development (R&D) and innovation, and the remaining 16 per cent in manufacturing.

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