Prime Minister Lee Hsien Loong revealed in Parliament that several Fortune 500 companies and a pharmaceutical company are looking to invest in Singapore during the pandemic-triggered economic downturn. — TODAY pic
Another company specialising in pandemic risk insurance wants to set up operations in Singapore. Major financial institutions want to expand their operations as well. “Companies are seeking a safe harbour, where the politics is stable, there is rule of law, the people are hardworking and united, and where the country will come through the pandemic safely and have a bright future.”
At present, he noted that Singapore does not have the full complement of specialist engineers and other expertise for these types of work yet. But this issue can easily be played up, said Lee. He cited the example of a viral photo of DBS bank’s chief executive officer Piyush Gupta posing with Indian employees at an India-based office.