US welcomes rise in Singapore investments

ONE of the top economic officials in the Obama administration has said that Washington welcomes Singapore's increased investments in the United States, which have soared more than 10-fold in the space of a decade.

Commerce Secretary Penny Pritzker made this point in her first meeting here with Prime Minister Lee Hsien Loong on Monday (Tuesday morning, Singapore time).

Mr Lee is in the US capital for the first leg of his week-long working visit to the US, which includes a stop in New York City.

Latest figures from the US Department of Commerce's Bureau of Economic Analysis show that Singapore's investments in the country have gone up nearly 11 times to US$26.2 billion in 2012, from just US$2.2 billion in 2…