EDB's Performance in Attracting Foreign Investments

4 Mr Thomas Chua Kee Seng asked the Minister for Trade and Industry (Trade) (a) what has been the performance of EDB in attracting foreign investments from 2011 to 2015; and (b) what is EDB's strategy in attracting foreign investments in the face of Singapore's ageing workforce.

Mr Lim Hng Kiang: From 2011 to 2015, the Economic Development Board (EDB) secured commitments of S$65 billion in fixed asset investments. These investments are expected to generate total business expenditure per annum of S$34 billion, value-added per annum of S$77 billion, as well as create 107,000 jobs when fully implemented.

EDB adopts a targeted approach to investment promotion, attracting projects that are in line with Singapore's competitive strengths as well as our constraints in manpower, land and planned international commitments on carbon emissions.

Besides attracting new investments, EDB also works closely with other Government agencies to support existing companies in Singapore to strengthen their competitiveness, raise productivity and create good job opportunities for locals. For example, EDB partners the Ministry of Manpower (MOM) and the Singapore Workforce Development Agency (WDA) to engage companies on equipping their local workers with the relevant skills for their jobs. Where relevant, companies are also encouraged to redesign jobs to meet the needs of older workers through schemes, such as WorkPro, which is jointly developed by MOM and WDA.