ID :
177681
Mon, 04/25/2011 - 09:09
Auther :
Shortlink :
https://oananews.org//node/177681
The shortlink copeid
S'PORE REMAINS HIGHLY ATTRACTIVE AS A FOREIGN INVESTMENT DESTINATION, SAYS ECONOMIST
By Tengku Noor Shamsiah Tengku Abdullah
SINGAPORE, April 25 (Bernama) -- Singapore remains highly attractive as a
foreign investment destination in the region, buoyed by its "very business-
friendly policies, said Shane Oliver, Head of Investment Strategy and Chief
Economist of AMP Capital Investors.
The republic is one of the region's largest investment managers, with more
than A$111 billion (A$1=RM3.02) in assets under management as at June 30, 2010.
Oliver said Singapore's economy was in good shape currently.
"Growth has slowed down from the initial post-Global Financial Crisis,
however bounce was still running around at 8.5 per cent over the year to the
March quarter," he told Bernama.
Oliver said it was likely to remain, supported over the year ahead, the
global recovery continues and this keeps world trade growth strong.
"But with the post-global financial crisis recovery fading, growth is
likely to slow back to a more sustainable pace of around five per cent over this
year and next.
"The main macro-economic challenge is to keep a lid on inflationary
pressures which have been bubbling up, thanks to high raw material cost
increases and a tight economy," Oliver said, adding that this would likely
require further monetary tightening via more exchange rate appreciation.
Therefore, Oliver said, he was confident that Singapore would remain highly
attractive to investors.
Saying that the Lion City's economy was "so far so good", Oliver stressed
that as long as Singapore continued to reinvent itself, it would earn more
receipt as a tourist destination and would do well.
Asked for his views on the corporate community with regard to the upcoming
Singapore general election, Oliver said: "For continuous economic progress, it
seems very unlikely there will be a change in government.
"But it was hard to see a new government going in a dramatically different
direction economically, He added.
The city-state is to hold its 14th general election on May 7.
SINGAPORE, April 25 (Bernama) -- Singapore remains highly attractive as a
foreign investment destination in the region, buoyed by its "very business-
friendly policies, said Shane Oliver, Head of Investment Strategy and Chief
Economist of AMP Capital Investors.
The republic is one of the region's largest investment managers, with more
than A$111 billion (A$1=RM3.02) in assets under management as at June 30, 2010.
Oliver said Singapore's economy was in good shape currently.
"Growth has slowed down from the initial post-Global Financial Crisis,
however bounce was still running around at 8.5 per cent over the year to the
March quarter," he told Bernama.
Oliver said it was likely to remain, supported over the year ahead, the
global recovery continues and this keeps world trade growth strong.
"But with the post-global financial crisis recovery fading, growth is
likely to slow back to a more sustainable pace of around five per cent over this
year and next.
"The main macro-economic challenge is to keep a lid on inflationary
pressures which have been bubbling up, thanks to high raw material cost
increases and a tight economy," Oliver said, adding that this would likely
require further monetary tightening via more exchange rate appreciation.
Therefore, Oliver said, he was confident that Singapore would remain highly
attractive to investors.
Saying that the Lion City's economy was "so far so good", Oliver stressed
that as long as Singapore continued to reinvent itself, it would earn more
receipt as a tourist destination and would do well.
Asked for his views on the corporate community with regard to the upcoming
Singapore general election, Oliver said: "For continuous economic progress, it
seems very unlikely there will be a change in government.
"But it was hard to see a new government going in a dramatically different
direction economically, He added.
The city-state is to hold its 14th general election on May 7.
