Share this
Digg
Del.icio.us
StumbleUpon
Netscape
Yahoo
Technorati
Googlize this
Facebook
Export PDF
Print
E-mail
Singapore expects to get $12 to 14 billion in fixed asset investment commitments this year as the global economic recovery continues and investors show increasing interest in Asia, the country’s Economic Development Board (EDB) said on Monday.
EDB said the city-state of 5 million people attracted $12.9 billion in fixed asset investment commitments last year, beating its forecast of $10-12 billion and surpassing the $11.8 billion in 2009.
Unlike rival Asian business centre Hong Kong which has seen most of its factories relocate to China, Singapore retains a large manufacturing presence with the sector accounting for about one-quarter of gross domestic product.
“We foresee more downstream petrochemical projects being enabled by the petrochemical crackers that are coming onstream,” EDB managing director Beh Swan Gin said at a media briefing.
