Singapore ramps up high-tech investment to secure future growth

The Economic Development Board is deepening Singapore’s role as a global business hub by courting cutting-edge sectors. After Silicon Box committed to a $2 billion advanced semiconductor packaging plant in 2022, the firm now operates a 600-person headquarters and has demonstrated commercial-scale chip production. Parallel efforts see HP and Rockwell Automation transform long-standing manufacturing sites into AI-enabled Global Lighthouse factories, while AI-focused companies such as OpenAI, Cognition and KPMG establish Centres of Excellence.

Budget 2026 introduced national AI missions to spur adoption across manufacturing, finance and health, and new specialised hubs - from PwC’s Trade Advisory Hub to Yubico’s cybersecurity headquarters - are being launched. EDB’s Global Founder Programme has already helped nearly 80 serial entrepreneurs create over 45 ventures that have raised more than $2 billion. Overall, the strategy seeks to upgrade existing industries, attract frontier-tech firms and generate high-skill jobs for Singaporeans.