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Singapore attracted higher investment commitments in 2025 despite ongoing geopolitical and economic uncertainty, with China emerging as the largest source of new fixed asset commitments for the first time, according to data from the Singapore Economic Development Board (EDB).
Fixed asset investment commitments rose 5.2% year-on-year to S$14.2 billion, while total business expenditure increased 6% to S$8.9 billion. The data underscores Singapore’s continued appeal as a regional hub amid rising tensions between China and the United States.
China accounted for 20.6% of total fixed asset commitments, surpassing the US for the first time. In contrast, the US share fell sharply to 17.3%, from 55.5% in 2024, while China’s share surged from just 2.5% a year earlier. China also made up 50.7% of total business expenditure, up from 15% in 2024, reflecting the scale of Chinese corporate activity relocating or expanding in Singapore.
EDB chairman Png Cheong Boon said many Chinese firms are using Singapore as a base to internationalise amid slower domestic growth and heightened geopolitical risks. He added that Singapore will continue to rely on the US and Europe as key long-term investment partners, even as China’s presence expands rapidly.
The manufacturing sector remained dominant, contributing S$12.1 billion in fixed asset commitments. Growth was driven by new semiconductor plants linked to global AI demand, alongside investments in biomedical, chemicals and aerospace industries.
However, the number of jobs created fell 16% to 15,700, highlighting the impact of automation, AI and productivity gains. Png noted that newer investments are increasingly capital-intensive and generate fewer jobs, meaning Singapore must attract more investments across more sectors to sustain employment growth.
The data comes just days before Lawrence Wong delivers the national budget on Feb 12, where economic transformation, productivity and job creation are expected to be key themes.
Simple Summary
Investment commitments in Singapore rose in 2025
China became the largest source of new investments, overtaking the US
Manufacturing and semiconductors led growth, driven by AI demand
Job creation fell, as automation and AI reduced labour needs
Key Points to Watch
China’s share of fixed asset commitments jumped to 20.6%
US share dropped sharply to 17.3%
Manufacturing accounted for S$12.1 billion in commitments
Jobs created declined 16% due to technology-driven efficiency
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