Reuters has a less than glorious picture to paint of Singapore's investment climate in 2010. In an unflattering tone, it reports thatthe government expects only S$10-S$12 billion (RM24-29 billion) in new capital investment will come on stream , little changed from 2009, as major economies slowly emerge from the global downturn. The forecast for fixed-asset investment in manufacturing and services compares with S$11.8 billion achieved in 2009, the state investment promotion agency, Economic Development Board, said in a statement.
Investment in 2008 was S$18 billion, although that was inflated by big petrochemical projects.
"We have yet to see a firm pick-up in major expansions of manufacturing capacity around the world due to continued weakness of consumer demand in the G3 economies," EDB said.
So,it is another lean year for investment. Can Singapore dare hope for the money to come from tourism?
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