Some positive news to start the new year – Singapore’s Economic Development Board (EDB) secured investment commitments in 2019 to the value of S$15.2 bn, which not only exceeded the 2019 forecast of S$8-10bn, but also the 2018 actual of S$10.9bn.
This was released in EDB Year in 2019 Review on 16 January, which also found that when these projects are fully implemented, they will create 32,814 new jobs in the medium-long term, as against the projections of 16,000-18,000 and 2018 actual of 17,400.
Just under half of the new jobs to be created (49%) are expected to be in the digital space, while production jobs are expected to take up 29% of the share.
Examples of jobs to be created under each sector:
- Digital (49%) – roles that utilise digital technologies such as AI / data analytics etc.
Data engineer, business analyst, full-stack software engineer, solution architect, product manager
- Production (29%) – roles associated with the manufacturing of products
Automation engineer, process technician, equipment & maintenance engineer, material handler, quality assurance executive
- Asia (11%) – roles that provide business services to the region
Business development manager, supply chain analyst, advertising & marketing associate, it security specialist, logistics operations executive
- Innovation (5%) – roles in the creation and development of products and services
Process engineer, integrated circuit design engineer, technical manager, research assistant
- Others (6%)
In breaking down the industry sectors that are contributing to the 2019 investment commitment, EDB reports large manufacturing investments coming from semiconductor as well as energy & chemical companies. “They value Singapore’s stability, skilled workforce and competitive manufacturing ecosystem,” it stated.
The forecast of 32,814 jobs to be created in 2019 as a result of investment activities is the highest Singapore has seen since 2010, the previous high of 26788, back in 2010. In the past three years (2016-2018), the forecasts have been 20,075, 22481, and 17,417 respectively.
A breakdown by sectors shows that the majority of jobs will be created in infocommunications & media (8,527), followed by engineering & environmental services (6,263) and electronics (4,955).
Jobs expected to be created by each sector:
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