INVESTMENT COMMITMENTS IN 2015 MET OR EXCEEDED FORECAST;
INVESTMENT NUMBERS FOR 2016 EXPECTED TO BE MODERATE,
AMIDST CONTINUED WEAK GLOBAL AGGREGATE DEMAND
1. 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 results reflect the continued confidence and commitment of global companies in Singapore as a strategic location in Asia for key business functions.
2. For 2016, investment commitments are expected to be moderate due to the continued weakness of global aggregate demand.
(II) YEAR 2015 IN REVIEW
3. In 2015, EDB attracted S$11.5 billion in Fixed Asset Investments (“FAI”), which exceeds the forecast of S$9 - S$11 billion. Total Business Expenditure Per Annum (“TBE”) and Value-Added Per Annum (“VA”), at S$5.6 billion and S$12.3 billion respectively, were within the forecast ranges.
|Indicator||2014 Actual||2015 Forecast||2015 Actual|
|Fixed Asset Investments (S$ billion)||11.8||9.0 – 11.0||11.5|
|Total Business Expenditure Per Annum
|7.0||5.5 – 6.5||5.6|
|Expected Value-Added Per Annum
|12.5||11.0 – 13.0||12.3|
|Expected Jobs||18,600||16,000 – 17,000||16,800|
(Please refer to Annex A and Annex B for details)
(III) 2016 INVESTMENT OUTLOOK
4. For 2016, EDB expects the level of investments to remain moderate due to uncertain global economic conditions. In addition, we will continue with our targeted approach to investment promotion as Singapore shifts from a value-adding to a value-creating economy.
|Indicator||2015 Forecast||2015 Actual||2016 Forecast|
|Fixed Asset Investments (S$ billion)||9.0 – 11.0||11.5||8.0 – 10.0|
|Total Business Expenditure Per Annum (S$ billion)||5.5 – 6.5||5.6||5.5 – 6.5|
|Expected VA per annum (S$ billion)||11.0 – 13.0||12.3||12.0 – 14.0|
|Expected Jobs||16,000 – 17,000||16,800||20,000 – 22,000|
5. Weak global demand is likely to continue affecting Singapore’s manufacturing output, but EDB is confident about the underlying health of the manufacturing sector. We will continue to explore ways to seize new manufacturing opportunities, as a result of advanced manufacturing technologies such as robotics. There will also be greater focus on helping Singapore-based companies grow new businesses from Singapore. Our objective stays the same – for Singapore to be a vibrant and resilient economy with sustainable growth that creates good jobs and business opportunities for Singaporeans.
6. “The investment commitments achieved in 2015 are a demonstration of the resilience of Singapore’s attractiveness as a global business hub for leading companies seeking long-term competitiveness as well as pursuing growth opportunities in Asia,” said Dr. Beh Swan Gin, Chairman EDB. “These are exciting times for Singapore as we transition to a value-creating economy. EDB will continue to attract quality investments, and transform existing industries to bring about sustainable economic opportunities for all.”
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.
For more information on EDB, please visit www.sedb.com
For media enquiries, please contact:
Ms. Jocelyn Lim / Ms. Sneha Gururaj
Tel: (65) 6832-6307 / 6832-6243