Investments in the manufacturing and services sectors are expected to hold their ground this year.
According to a Bloomberg report, the Economic Development Board pegs total fixed-asset investments between S$10 billion ($7 billion) and S$12 billion in 2010, in comparison to 2009's S$11.8 billion. The report added the government is also targeting to attract as much as S$9 billion in business spending from manufacturing and services industries such as health care, information, and education.
"The economic recovery will help boost the investment climate," said Board chairman Leo Yip. He added, "Singapore’s fundamentals continue to attract companies. We remain competitive in attracting investment."
Singapore is also set to see this month or in February the Economic Strategies Committee's recommendations on economic growth, following the committee's formation last May.
Do you know more about this story? Contact us anonymously through this link.