It is go time for Singapore in the race to soak up foreign investments before higher lending rates dent business confidence and lead firms to tighten belts.
The small and open economy relies heavily on external demand to generate growth and create good jobs for Singaporeans. Attracting investments from established industry titans and high-growth enterprises that will become tomorrow’s new captains of industry is a big part of that strategy.
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Faizal Yahya is a senior research fellow at the Institute of Policy Studies, National University of Singapore.
Top photo from Pixabay.