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Singapore braces for less investments as global demand wanes
The EDB trimmed its overall investment forecasts.
The Economic Development Board (EDB) warned that investment commitments to Singapore will drop in 2016, on back of the continued weakness of global demand.
The EDB forecasts that Singapore will attract $8 billion to $10 billion in Fixed Asset Investments this year, down from $11.5 billion in 2015.
Meanwhile, total business expenditure is expected to remain stable at $5.5 billion to $6.5 billion. The EDB also expects these investments to create 20,000 to 22,000 jobs, higher than 16,800 in 2015.
Investment commitments in 2015 met or exceeded EDB’s forecast for all indicators. This will lead to the creation of 16,800 jobs, when the projects are fully implemented, the EDB said.
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