Which Sector To Invest In In Singapore: Electronics Investments At $6.2 Billion In 2012
For those thinking of putting up a business in Singapore or investing in existing industries, the electronics sector was identified as one of the burgeoning sectors this year due to favourable figures in it’s foreign investments.
In a report by the Business Times Singapore, the Economic Development Board or EDB said fixed-asset investments in electronics reached $6.2 billion in 2012. The EDB referred to the electronics sector as “a diversified one with a bright future.”
The said investments made up 39 percent of total investments secured for the said year. The sector, in total, has attracted $24 billion in investments for the last 4 years.
According to EDB’s Managing Director Yeoh Keat Chuan, despite the contraction of production figures in the sector in the past months, electronics is seeing better days ahead with the setting up of Qualcomm’s international headquarters in the country. Qualcomm is a leading semiconductor company that has a 50-percent global market share in smartphone processors. The EDB is also counting on smartphone giants Apple and Samsung, both of which maintain a significant presence in the local market, to help boost the production figures of the sector this year.
EDB Chairman Leo Yip added that as long as global leaders continue to invest in Singapore, then the sector would remain competitive.
Mr. Yeoh explained that the contraction in production of the sector is a natural cyclical decline, much the same way in 2009 and 2010, when the downturn (2009) was upturned the following year.
In line with this, Mr. Yeoh also vowed the EDB would continue to “actively promote activities in growth areas” such as power management, communication and automotive. According to Yeoh, these three segments of the sector are expected to boost by two digits in the next five years.