Amazon to invest S$12 billion in Singapore over next 4 years
Amazon Web Services (AWS) will invest more than S$12 billion over the next four years in Singapore.
In particular, the funds will be channelled towards its operations and cloud infrastructure here.
Source: Amazon Singapore via TheSmartLocal
The investment is expected to support more than 12,300 jobs in AWS’ network.
Amazon to invest S$12 billion in cloud & AI projects
The S$12-billion investment was announced on Tuesday (7 May) during the AWS Summit held in Marina Bay Sands.
In a press release, AWS shared that the investment will go towards cloud and artificial intelligence (AI) projects, as well as expanding its existing operations here.
The AWS Economic Impact Study (EIS) states that the funds will cover:
- Salaries of Amazon staff
- Importing specialised equipment and software
- Construction
- Data centre operations
Country manager Priscilla Chong told The Straits Times (ST) that the investment would prepare AWS for the growing demand for generative AI tools, which require heavy computational power.
Taking into account its S$12-billion investment, AWS has invested a total of S$23.5 billion in Singapore.
Since 2010, the company has invested about S$11.5 billion after setting up the regional headquarters for its cloud computing division here.
Expected to support 12,300 jobs
AWS said its latest investment is expected to contribute S$23.7 billion to Singapore’s gross domestic product (GDP).
It is also slated to support 12,300 jobs through 2028, both within AWS and in companies that use its cloud services.
Between 2010 and 2023, AWS’ services reportedly supported 4,800 full-time positions in local businesses each year.
Besides creating jobs, AWS has also imparted relevant skills to individuals in Singapore.
Speaking to CNBC, Ms Chong shared that AWS has taught 400,000 people in Singapore cloud skills.
Moving forward, the country hopes to continue investing in upskilling and improving productivity gains here.
Also read: Apple announces S$340 million upgrade & expansion of Ang Mo Kio campus
Apple announces S$340 million upgrade & expansion of Ang Mo Kio campus
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