Here’s a piece of bad news. Singapore economic growth has slowed down significantly in the year 2019.
Some of the main factors affecting the slowing down of economy include:
Lower global demand and international trade. Sectors that took the most hits are the manufacturing and trade-related services sector. Retails continue to be affected by the rise of e-commerce and online shopping. (Fans of Taobao, I know right!) A slump in electronics Is Our Economy Still Relevant?On a brighter side, Singapore managed to attract major investments this year.
Finnish oil company Neste invested more than $2 billion in Singapore to expand its renewable energy plant. Such investments are essential to our economy as they create new job opportunities for Singaporeans, especially with our economy slowing down. What Can Singaporeans Do?The next ten years may be more uncertain that whatever we have experienced so far, mainly
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