SINGAPORE: Even amid the COVID-19 pandemic, the Economic Development Board managed to secure S$13 billion worth of fixed asset investment commitments in the first four months of 2020.
Singapore has “sound economic fundamentals” and remains an “attractive location” for businesses to grow and invest, the report said. “They are assisted by a wide range of support including Adapt and Grow, SkillsFuture and other employment support schemes as well as initiatives to ensure fair consideration for Singaporean jobseekers.”As of August, the SGUnited Jobs and Skills Package to respond to the COVID-19 pandemic has made 117,500 opportunities available, with more than 33,000 placed, according to the report.
This could be seen in the 37 per cent increase in direct investment into Southeast Asia by Singapore-based companies. Most of the 600 projects that Enterprise Singapore facilitated globally last year were in China and Southeast Asia, the report added. Singapore also continued to be highly regarded as a place to do business, the report said. This year, the country ranked second in the World Bank’s Ease of Doing Business Index, after consistently placing in the top three for the past 14 years.