More skilled jobs this year will grow considerably
The new investments could yield 20,000 to 22,000 skilled jobs - EDB
Although the latest forecast for fixed asset investments in Singapore this year showed the lowest level in the past decade - around $8 billion to $10 billion, The Economic Development Board (EDB) announced that the number of skilled jobs generated by this year's investments will set to grow considerably.
According to the EDB, the new investments could yield 20,000 to 22,000 skilled jobs, above 16,800 jobs that came with last year's investments.
EDB managing director Yeoh Keat Chuan says that the EDB has been focusing on attracting more resource-efficient investments aligned with Singapore's stage of economic development.
"EDB is working to attract speciality chemical makers, for example, as they may create higher added value but need less land",said EDB chairman Beh Swan Gin. He is confident that Singapore's underlying competitiveness, including in manufacturing, is strong.
UOB economist Francis Tan also said making higher value-added goods such as pharmaceutical products can make Singapore's manufacturing sector more resilient.