Singapore secured about S$13 billion in investment commitments in first 4 months of 2020 amid COVID-19 outbreak

SINGAPORE: Despite the COVID-19 outbreak, the Economic Development Board has in the first four months of this year secured about S$13 billion in investment commitments for the “next few years”, Trade and Industry Minister Chan Chun Sing said.

Micron aims to add 1,500 jobs in Singapore over the next few years, while Thermo Fisher Scientific is increasing hiring due to a surge in demand for its COVID-19 test kits. A post-COVID-19 world is also not yet on the horizon, noting that a vaccine or affordable rapid test kits are unlikely to be available in the near-term, he said.There will be job displacement from old industries into new ones, requiring a certain amount of retraining and upskilling for workers, he added.

READ: Reducing migrant worker population will affect Singapore's competitive edge, lead to higher costs: Industry groups

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