EDB Year 2014 In Review

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INVESTMENT COMMITMENTS IN 2014 MET FORECAST;
INVESTMENT NUMBERS FOR 2015 EXPECTED TO MODERATE,
REFLECTING A MORE TARGETED APPROACH
AND UNCERTAIN GLOBAL ECONOMIC ENVIRONMENT

(I) OVERVIEW

1. Investment commitments in 2014 met or exceeded EDB’s forecast for all indicators. This will lead to the creation of 16,100 skilled jobs when the projects are fully implemented. These results reflect the continued confidence of global companies in Singapore as a strategic location to base their top decision-makers and key functions.

2. For 2015, EDB expects the level of investments to moderate in line with Singapore’s stage of economic development as well as the increased uncertainty of the global economic environment.

(II) YEAR 2014 IN REVIEW

3. In 2014, EDB attracted S$11.8 billion in Fixed Asset Investments (“FAI”), which is at the upper end of the forecast of S$10 - S$12 billion. Total Business Expenditure Per Annum (“TBE”) and Value-Added Per Annum (“VA”), at S$7.0 billion and S$12.5 billion respectively, were within the forecast as well, while the number of skilled jobs created exceeded the forecast.

Indicator 2013 Actual 2014 Forecast 2014 Actual
Fixed Asset Investments (S$ billion) 12.1 10.0 – 12.0 11.8
Total Business Expenditure Per Annum (S$ billion) 7.8 6.0 – 7.5
7.0
Expected Value-Added Per Annum
(S$ billion) 
16.7 11.5 – 13.5 12.5
No. of Skilled Jobs 21,400 14,000 – 16,000 16,100


(Please refer to Annex A and Annex B for details)

(III) 2015 INVESTMENT OUTLOOK

4. For 2015, EDB expects investment commitment numbers to continue with the trend since 2013, of a more moderate flow of investments. This reflects our sharper focus on attracting projects that are in line with Singapore’s stage of economic development, manpower policies and planned international commitments on carbon emissions. The 2015 forecast also takes into consideration the greater uncertainty in the outlook for the global economy this year.

Indicator 2014 Forecast 2014 Actual 2015 Forecast
Fixed Asset Investments (S$ billion) 10.0 - 12.0
11.8 9.0 - 11.0
Total Business Expenditure Per Annum (S$ billion) 6.0 - 7.5
7.0
5.5 - 6.5
Expected Value-Added Per Annum
(S$ billion) 
11.5 - 13.5
12.5 11.0 - 13.0
No. of Skilled Jobs 14,000 - 16,000
16,100 13,000 - 14,000


5. Aside from a more targeted approach to investment promotion, EDB will place greater emphasis on helping existing companies and sectors strengthen their competitiveness and make more productive use of their resources. We will also explore ways to help Singapore-based companies create new businesses through innovation, and in so doing, generate economic growth and good jobs for Singaporeans.

(IV) CONCLUSION

6. “The investment commitments achieved in 2014 are a testament to Singapore’s attractiveness and strength as a global business hub for leading companies seeking to seize growth opportunities in Asia,” said Dr. Beh Swan Gin, Chairman EDB. “Moving forward, EDB will complement our efforts in attracting high quality and sustainable investments with initiatives to strengthen the competitiveness of our sectors, and to spur innovation-driven growth.”

ABOUT THE EDB
The Singapore Economic Development Board (EDB) is the lead government agency for planning and executing strategies to enhance Singapore’s position as a global business centre. EDB dreams, designs and delivers solutions that create value for investors and companies in Singapore. Our mission is to create for Singapore, sustainable economic growth with vibrant business and good job opportunities.

EDB’s Home strategy articulates how we are positioning Singapore for the future. It is about extending Singapore's value proposition to businesses not just to help them improve their bottom line, but also to help them grow their top line through establishing and deepening strategic activities in Singapore to drive their business, innovation and talent objectives in Asia and globally.

For more information on EDB, please visit www.sedb.com

For media enquiries, please contact:
Ms. Qinyan Yu / Ms. Rachel Gong
Tel: (65) 6832-6427 / 6832-6252
Mobile: (65) 9733-9437 / 9296-8248
Email: yu_qinyan@edb.gov.sg /  rachel_gong@edb.gov.sg

Press Release and Conference
- 02 February 2015

EDB Year 2014 In Review