Singapore Achieves 2013 Investment Forecast

(RTTNews) - The Singapore Economic Development Board on Tuesday said it achieved strong investment commitments in 2013.

In 2013, the board attracted S$12.1 billion in fixed asset investments, in line with the forecast of S$11 - S$13 billion. The expected value-added per annum was at S$16.7 billion, within the forecast.

About 21,400 skilled jobs were created in 2013 compared to the estimate of 19,000-22,000. Actual business expenditure came in at S$7.8 billion, versus S$6.5-S$8 billion estimate.

For 2014, the EDB forecast fixed asset investment of S$10-S$12 billion and job creation in the range of 14,000-16,000. Total business spending is seen between S$6 billion and S$7.5 billion this year.

The EDB said the forecast for both fixed asset investment and total business expenditure reflects continued interest in Singapore for capital- and knowledge-intensive investments including the manufacturing of high-value and sophisticated products.