Global companies still keen on Singapore despite pandemic

Singapore

FOREIGN investors are still keen on Singapore, despite the "depressed economic climate", Prime Minister Lee Hsien Loong said on Wednesday.

Indeed, multinational companies (MNCs) have been adding local headcount and expanding facilities, even with the deadly Covid-19 pandemic.

Many businesses have expressed interest in expanding here, PM Lee told Parliament on Wednesday, citing Singapore's reputation as a trusted place "in a troubled world" as a driver.

The Economic Development Board (EDB) told The Business Times that it is on track with committed investments for the next three to five years, while PM Lee said the EDB's pipeline for this year is higher than it was last year.

Automaker Hyundai, video-conferencing platform Zoom and information technology (IT) firm Tata Consultancy Services are among the companies that have opened a range of facilities in Singapore in re…