Investments in Singapore expected to hold steady

By IBTimes Staff Reporter | January 25 2010 4:50 AM

Singapore's economic development board said investment in manufacturing and services is anticipated to remain at the same levels this year, despite the global recession forced companies to cancel or delay their investment plans.

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The EDB said fixed asset investments may total between S$10 billion and S$12 billion in 2010 compared with S$11.8 billion last year. However, the government aims at attracting S$9 billion in business spending from manufacturing and services industries, while the EDB added that this year's investments will generate about 17,000 jobs in addition to adding S$15 billion to the GDP.