SINGAPORE – Singapore’s capital investment commitments (FAIs) reached $ 3.7 billion between July and September of this year, according to the Ministry of Trade and Industry’s economic study released Wednesday, November 24.
The commitments, collected by the Economic Development Council, are up from $ 3.6 billion in the previous quarter and $ 2.07 billion for the same period last year.
When the projects from the guaranteed investments in the third quarter are fully implemented, they will create nearly 900 jobs and generate $ 2 billion in added value to the economy, MTI said.
Value added refers to a company’s direct contribution to Singapore’s gross domestic product and includes items such as employee salaries and company profits.
FAI includes the amount invested in buildings, land, machinery and equipment, as well as infrastructure related to a project.
However, commitments in total business expenses (TBE) – referring to a company’s additional annual operating expenses, excluding depreciation – fell to $ 230 million in the third quarter of this year, from $ 1.4 billion. dollars in the previous quarter.
For FAI, the largest contribution came from the manufacturing sector, which attracted $ 3.4 billion in commitments, driven primarily by the electronics cluster.
Meanwhile, the research and development cluster garnered the highest number of ISP engagements in the service industry, with $ 311 million.
Investors from the United States contributed about 90 percent of total ISPs, with $ 3.3 billion.
For TBE, the service hubs attracted the highest amount of commitments, at $ 158 million. The research and development pole represented 88 million dollars of commitments, while the head office and professional poles attracted 70 million dollars.
In manufacturing, the electronics cluster attracted $ 59 million in TBE commitments, while biomedical manufacturing captured $ 14 million.
Investors from the United States were again the main source of TBE commitments, with $ 117 million, or 51 percent of the total.