The Economic Development Board (EDB), long synonymous with bringing foreign investments into Singapore, is telling multinational corporations (MNCs) to go north of the border.
They are being encouraged actively to invest in Johor’s Iskandar region.
The EDB is adopting this new approach to Iskandar, as land and labour costs rise in Singapore, and interest in the region grows. It envisions Singapore playing a complementary role, its chairman Leo Yip said in an interview with The Straits Times this week.
He sees companies siting their higher-value and more skilled operations as well as headquarters in Singapore, while their factories operate in the neighbouring countries, where land and labour are relatively abundant.
Source – The ST Asia Report
Food for thought: As more is said about the rising cost of living, rising prices of properties, the cooling measures, etc, more Singaporeans and many foreigners are finding it more attractive to cross over the border to invest. This is also true for many businesses. Many are still “waiting for the herd to move”, while the savvy investors always take action for the first mover advantage. What about you? Awesome!