EDB investment scheme<\/p>\n
SINGAPORE (AFP): The Economic Development Board (EDB) has
\nstepped up co-investments with multinationals and local firms
\nwith a commitment of S$227.6 million (US$162 million) in 1996,
\nofficials said yesterday.<\/p>\n
The EDB, tasked with attracting investments and encouraging
\npioneer ventures by sharing the risks with private companies,
\nadministers an investment pool of US$1.3 billion under the
\nCluster Development Fund program.<\/p>\n
The 1996 investments account for nearly half the $483.4
\nmillion so far committed to 15 projects since the program was
\nlaunched in 1993, according to an EDB statement.<\/p>\n
The funds have been invested in Singapore projects as well as
\nregional projects of Singapore-based companies, including
\nmultinationals, as part of the city-state's efforts to develop an
\nexternal wing to its economy.<\/p>\n
The 1996 investments in seven projects included commitments to
\nco-invest in a plant here to be set up by Swiss group Lonza, an
\nadvanced semiconductor plant here with Hitachi Ltd. and Nippon
\nSteel Corp. of Japan, and a semiconductor plant in southeastern
\nChina's Suzhou industrial park with Hitachi.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/edb-investment-scheme-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}