2016 investment commitments met or exceeded EDB’s forecasts and will create 20,100 jobs when the projects are fully implemented, the Singapore Economic Development Board (EDB) said in a press release on 2 Feb.
The agency attracted S$9.4 billion in Fixed Asset Investments (FAI) last year, which is at the upper end of the forecast S$8-10 billion, EDB said.

Source: the Singapore Economic Development Board
Source: the Singapore Economic Development Board
Total Business Expenditure per annum (TBE) at S$8.3 billion, exceeded the forecast range partly due to large-scale shipyard projects committed. However for 2017, TBE is expected to return to earlier levels as the large shipyard projects committed in 2016 have long investment cycles and will not recur in the near future.
Source: the Singapore Economic Development Board
Source: the Singapore Economic Development Board
Value-Added per annum (VA) at S$12.9 billion was within the forecast ranges.
Source: the Singapore Economic Development Board
Source: the Singapore Economic Development Board
However, the 2016 number of expected jobs, which is 20,100, was at the lower end of the 20,000 to 22,000 forecast for the year.
Source: the Singapore Economic Development Board
Source: the Singapore Economic Development Board
“The level of investment commitments this year is expected to be ‘comparable’ to 2016 levels,” EDB said, although its expected job creation forecast range was lower for this year: at 19,000-21,000 jobs.

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