Singapore records $10B foreign investments in 2010

Singapore received US$10 billion worth of investments from international firms in 2010,   modestly surpassing the US$7.79 billion forecast.

The Singapore Economic Development Board noted that investments in 2010 were for fixed assets such as facilities and equipment. When these projects are completed, they are expected to generate some 21,300 skilled jobs - a record number.

EDB attributed the healthy figures to the improved outlook as the global economy rebounds. It expects more such investment interest for Singapore in 2011, particularly in being a home base for companies.

It plans to attract US$9.35 billion to US$10.9 billion in fixed asset investments in 2011, and generate 19,000 skilled jobs.