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

May 30, 2020 | 🚀 Fathership
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.

This "Very good performance" means Singapore has exceeded the S$8 billion to S$10 billion which had been projected for the whole of 2020.

These investments, in sectors including electronics and infocomm, will generate "a few thousand jobs" for workers in Singapore in the coming years, Mr Chan told reporters during a media briefing on Saturday.

When asked if Singapore would review its reliance on foreign manpower, Mr Chan said the demand was "Not monolithic" and served to complement the Singapore workforce.

"We would like to have talented individuals to be part of team Singapore, rather than competing against Singapore if they were somewhere else," he added.