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Business investment into Singapore dropped 31% in 2021, Covid blamed

Commitments for investments in fixed assets such as facilities, machinery and other equipment shrank to $11.8 billion.

A view of the Monetary Authority of Singapore's headquarters in Singapore. Photo: Reuters
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A view of the Monetary Authority of Singapore's headquarters in Singapore. Photo: Reuters

Reuters Singapore
Business investment commitments into Singapore dropped about 31% last year, marking the first decline in five years and after hitting a more than decade high in 2020, government data showed on Wednesday.

Commitments for investments in fixed assets such as facilities, machinery and other equipment shrank to $11.8 billion ($8.78 billion) in 2021, but remained above a medium-to-long-term goal of S$8 billion to $10 billion, according to the Economic Development Board (EDB).

"2021 was an unusual year, (there were) many disruptions as a result of Covid...the numbers in 2020 were actually quite exceptional. And we did not expect to repeat

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Jan 26 2022 | 1:25 PM IST

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