Singapore Economic Development Board

What Singapore Economic Development Board does

The Singapore Economic Development Board (EDB) is a statutory board under Singapore's Ministry of Trade and Industry, established in 1961 to plan and execute strategies that enhance Singapore's economic competitiveness. EDB serves as Singapore's lead investment promotion agency, engaging with multinational corporations, regional headquarters, high-growth startups, and government partners to attract foreign direct investment and support business setup and expansion across 17 key industries including advanced manufacturing, aerospace, semiconductor, biotechnology, digital technology, carbon services, energy, logistics, medical technology, and professional services.

EDB does not develop or sell commercial technology products and does not generate revenue from services. Its facilitation services — including market assessments, incentive negotiations, regulatory guidance, partner introductions, and talent development support — are provided free of charge to qualifying investors, with operations funded through Singapore government budget allocations. The agency's distribution model is direct, relationship-based enterprise engagement, supplemented by a digital Connections Concierge platform, The Workshop personalized consultations, the Global Founder Programme, the Singapore Global Network community, and a JS-SEZ Project Office established in April 2025 for cross-border facilitation into Johor.

EDB's positioning is anchored to Singapore's structural advantages — ranked 1st globally for economic competitiveness (IMD 2026), 1st for operational stability (WIPO 2025), and 1st globally for FDI attraction (UNCTAD 2025) — and amplified by the S$37 billion RIE2030 plan and the National AI Strategy 2.0. Recent large commitments include Applied Materials (US$500M Tampines Campus), GE Aerospace (US$300M with AI Center of Excellence), RTX (US$139M+ aerospace MRO), Kyec (S$100M semiconductor testing), AirTrunk (multi-billion across 180MW of IT load), OpenAI (S$300M with first Applied AI Lab outside the US), and Siemens (€200M digital factory). The agency reports a 101–250 employee headcount with leadership including Vice President Choo Heng Tong.

Name

Singapore Economic Development Board

Legal name

Singapore Economic Development Board

Website

https://edb.gov.sg

Company type

Private

Founded year

1961

Operating status

Operating

Headcount range

101–250 employees

Short description

The Singapore Economic Development Board is a statutory board under the Ministry of Trade and Industry, established in 1961, that attracts foreign direct investment, facilitates business setup and expansion, and administers selective incentive programmes across 17 key industries in Singapore.

Ownership category

akta.pro rank

Product category

Investment Promotion Services

NAICS

Administration of General Economic Programs (92611), Public Administration (92), Executive, Legislative, and Other General Government Support (921)

akta.pro primary industry

Digital Development & ICT4D / GovTech Technical Assistance (BPADAEAL)

Keywords

• Foreign direct investment
• Investment promotion services
• Economic development facilitation
• Government incentive programs
• Business setup advisory

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Government Operations: EDB operates as a statutory board of the Singapore Ministry of Trade and Industry. It does not generate commercial revenue. Its operations are funded through government budget allocations. EDB facilitates investments that generate broader economic returns including tax revenues, employment, and GDP growth for Singapore.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels8 records

Core offering

Singapore Economic Development Board (EDB) is a Singapore government statutory board that promotes foreign direct investment into Singapore. EDB engages directly with multinational corporations, regional headquarters, and high-growth startups to facilitate business setup, expansion, and capability development. The agency administers selective incentive and grant programmes, connects investors with government agencies and partners, and provides market and industry intelligence to support companies operating in or scaling from Singapore into the broader Asia-Pacific region.

Product overview

The Singapore Economic Development Board (EDB) is Singapore's lead government agency for economic planning and investment promotion. It is not a product company; it does not offer commercial products, software platforms, or modules for sale. EDB's functions are to attract and facilitate foreign direct investment, support business setup and expansion in Singapore, provide industry insights, connect investors with partners, and administer incentive programmes for companies. EDB publishes market and industry reports, business guides, and success stories as informational resources. All offerings are advisory, facilitative, and informational in nature rather than commercial product transactions.

Differentiator

Problem solved

Functional benefit

Products and services

• Incentives and Facilitation Programmes
• Global Investor Programme
• Programme for Experienced Founders (Global Founder Programme)
• Corporate Venture Launchpad 3.0
• Connections Concierge
• The Workshop (Personalized Consultations)
• JS-SEZ Project Office Coordination
• Carbon Project Development Grant

Quantifiable outcome

• Singapore accounts for 1 in 10 chips produced worldwide, 90% of global microarray chip share, and handles 60% of GE Aerospace's engine repairs globally
• +4 more outcomes

Named customers25 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

34 partnerships are on record, tiered core and minor.

• 100x100coreStrategic or Co-development Partner · 27 June 2026EDB is listed as an investor/backer of 100x100's Fund I (which reached its $60 million hard cap in 2023). 100x100 is a Singapore-based venture capital fund and climate firm builder that launched Fund II targeting US$100 million to establish 50 new climate-focused businesses in Southeast Asia and India. Fund I co-founded Wavemaker Impact with backing from DFC, EDB, BII, Triple Jump, Qarlbo Energy, JG Digital Equity Ventures, Kajima Corporation, and Beacon Ventures.
• YealinkminorStrategic or Co-development Partner · 26 June 2026EDB representatives attended the inauguration of Yealink's newly upgraded global operational headquarters and Customer Experience Center in Singapore. EDB highlighted Singapore's appeal as a strategic hub for Yealink's Management Cloud Service operations due to its robust legal environment and compliance framework.
• Polymatech Electronics (AEIM Pte Ltd)minorStrategic or Co-development Partner · 17 June 2026AEIM Pte Ltd, a wholly owned subsidiary of Polymatech Electronics Ltd, opened an advanced electronics manufacturing facility at Mapletree Hi-Tech Park in Singapore with an investment of approximately S$25 million. The facility serves as the Asia-Pacific manufacturing hub for LED Chip-on-Board packaging and advanced memory module assembly — one of Singapore's first dedicated commercial-scale LED CoB packaging operations — expected to create about 50 engineering and manufacturing jobs over five years.
• McKinsey & Company and Tech in AsiacoreStrategic or Co-development Partner · 17 June 2026EDB partnered with McKinsey and Tech in Asia to publish reports on Southeast Asia's AI adoption. A 2026 report found 46% of surveyed Southeast Asian companies have moved beyond piloting AI to scaling it, surpassing a global average of 35%, with Singapore and Indonesia leading at 56% and 51% respectively. EDB also jointly launched the AI in South-east Asia 2026 report with QuantumBlack (AI by McKinsey) and Tech in Asia.
• Applied MaterialscoreStrategic or Co-development Partner · 14 June 2026EDB supported Applied Materials' US$500 million expansion of manufacturing and R&D operations in Singapore through a new Tampines Campus designed to support growing global demand for AI semiconductors. The facility more than doubles the company's advanced cleanroom capacity in Singapore, incorporates advanced automation and AI technologies, and is expected to create approximately 1,000 local jobs over the next several years. This is part of Applied Materials' Singapore 2030 strategy.
• KPMG SingaporecoreStrategic or Co-development Partner · 28 May 2026EDB partnered with KPMG to launch the Trusted Artificial Intelligence Centre of Excellence (AI CoE) in Singapore, helping enterprises scale AI adoption beyond pilot projects into core operations, governance, and customer-facing functions. The centre serves as a collaboration hub for businesses, government agencies, and academic institutions, initially focusing on financial services, healthcare, manufacturing, and infrastructure. KPMG also introduced its Trusted AI Assurance framework aligned with EU AI Act, NIST AI Risk Management Framework, and ISO 42001.
• SiemenscoreStrategic or Co-development Partner · 28 May 2026Siemens is building a 200 million euro digital factory in Singapore scheduled to begin production in 2028, producing industrial automation products and creating around 400 jobs. German industrial manufacturers increasingly view Singapore as a strategic hub for advanced manufacturing and regional market access, with over 2,300 German companies now operating in the city-state.
• OpenAIcoreStrategic or Co-development Partner · 25 May 2026OpenAI launched OpenAI for Singapore, a S$300 million partnership with Singapore's Ministry of Digital Development and Information to support the National AI Strategy. The initiative centers on a new Applied AI Lab in Singapore — OpenAI's first outside the United States — creating over 200 Singapore-based technical roles. The partnership focuses on helping organizations deploy frontier AI, developing local AI talent, and widening access to AI across the economy in public services, finance, healthcare, and education.
• King Yuan Electronics Corp (Kyec)coreStrategic or Co-development Partner · 22 May 2026EDB managing director Jermaine Loy welcomed Kyec's S$100 million investment in a new semiconductor testing facility in Ang Mo Kio, Singapore — Kyec's first overseas testing facility. The 109,000-square-foot facility with clean-room space will create over 300 jobs in engineering and managerial roles, targeting growing demand for automotive, AI, and other electronics semiconductor testing in Southeast Asia. EDB stated the facility will help build Singapore's AI chip-testing capabilities.
• Anew Climate and Value Network VenturescoreStrategic or Co-development Partner · 22 May 2026EDB announced Anew Climate and Value Network Ventures as new recipients of the Carbon Project Development Grant, bringing the total number of recipients to five since the grant's launch in November 2024. The grant supports carbon project development in Singapore, part of EDB's broader goal of establishing Singapore as a leading carbon services and trading hub in Asia.
• Rosti GroupminorStrategic or Co-development Partner · 14 May 2026EDB incentives supported Rosti Group's inauguration of its Rosti Asia Integrated Solutions facility in Singapore as a strategic hub to coordinate its pan-Asian manufacturing network spanning China, Malaysia, and India. The facility positions Rosti within the Asia-Pacific contract manufacturing market valued at over US$170 billion in 2024, partnered with China Singapore Suzhou Development (CSSD).
• ThalesminorStrategic or Co-development Partner · 5 May 2026Thales signed two MOUs with EDB and Enterprise Singapore to strengthen engagement with Singapore's startup ecosystem through its global Trust My Tech acceleration program. The partnerships connect Singaporean startups in AI, cybersecurity, quantum, digital identity, aerospace, and space with Thales' expertise and mentorship to develop proof-of-concepts. Thales has operated in Singapore for over 50 years and will also support selected startups with overseas learning expeditions for international expansion.
• PwC SingaporecoreStrategic or Co-development Partner · 22 April 2026EDB supported PwC Singapore's S$4 million Trade Advisory Hub investment over three years to help businesses navigate shifting global trade dynamics, assess supply chain impacts, and make informed growth decisions across the region. The hub leverages AI technology and provides end-to-end advisory services spanning trade compliance, supply chain management, and international business operations. Minister for Manpower Dr Tan See Leng officiated the launch.
• DNVcoreStrategic or Co-development Partner · 21 April 2026EDB and Singapore's Maritime and Port Authority supported DNV's Phase Two launch of its Centre of Excellence for Maritime Decarbonization & Smart Shipping Asia Pacific in Singapore. The expanded centre develops capabilities in remote operations, AI-enabled decision-making tools, and new fuels, while building local talent. A key activity is a joint development project with Seatrium applying DNV's Remote Operations Assurance audit framework to advance Seatrium's AssetCare platform.
• DNVcoreStrategic or Co-development Partner · 21 April 2026DNV launched Phase Two of its Centre of Excellence for Maritime Decarbonization & Smart Shipping Asia Pacific in Singapore, shifting focus from individual pilot projects to scalable platforms for maritime decarbonization and smart shipping adoption. The expanded centre, supported by MPA and EDB, develops capabilities in remote operations, AI-enabled decision-making tools, and new fuels while building local talent.
• Exa LabsminorStrategic or Co-development Partner · 1 April 2026Exa Labs, a US-based AI search engine company that has raised over US$100 million from Benchmark, Lightspeed, Nvidia, and YC, opened its first Asia-Pacific office in Singapore as a hub for core engineering and infrastructure development, including large-scale embedding, indexing pipelines, and vector database technology. EDB supports the company's expansion leveraging Singapore's engineering talent pool.
• Katoen NatieminorStrategic or Co-development Partner · 31 March 2026EDB (along with EnterpriseSG) supported Katoen Natie's development of Jurong Logistics Terminal 5 (JLT5) on Jurong Island — a next-generation two-storey ramp-up warehouse with approximately 37,000 square metres of gross floor area. Investment is around S$60 million, bringing Katoen Natie's total investment in Singapore to approximately S$250 million. The facility includes an automated storage system and rooftop solar infrastructure (2.7 MWp), creating over 25 jobs.
• AirTrunkcoreStrategic or Co-development Partner · 13 March 2026AirTrunk officially opened its new regional headquarters in Singapore at Ocean Financial Center, marking a decade of operations in the country. The company has committed several billion dollars in direct investment across three hyperscale data center facilities totaling 180MW of IT load, with a landmark S$2.25 billion green loan secured for its SGP2 facility. AirTrunk positions itself to support Singapore's National AI Strategy 2.0 and the government's S$1 billion AI research investment.
• YubicominorStrategic or Co-development Partner · 3 March 2026EDB partnered with Yubico (Swedish cybersecurity company listed on Nasdaq Stockholm) to establish its third global headquarters in Singapore to accelerate Asia Pacific growth. The new Singapore office serves as a strategic center of excellence housing supply chain, operations, sales, and administrative functions. Yubico partnered closely with EDB to develop local cybersecurity talent in response to rising AI adoption and tightening national identity protection regulations across the region.
• AmbiqminorStrategic or Co-development Partner · 26 February 2026EDB supported Ambiq's expansion of R&D operations in Singapore through a multiyear program focused on next-generation edge AI technologies and its subthreshold power optimized technology (SPOT) platform. A new office at Aperia Tower 2 in Kallang supports research, engineering, design, product development, and business development activities. Ambiq also began partnerships with Singapore Institutes of Higher Learning, public research institutions, and local SMEs to promote talent development and applied research.
• Barry CallebautcoreStrategic or Co-development Partner · 11 February 2026EDB (along with Enterprise Singapore) supported Barry Callebaut in opening its Callebaut Global Innovation Centre in Singapore — the company's first GIC featuring an integrated operating model. The centre consolidates the world's first AI Centre of Excellence dedicated to chocolate and cocoa, a Cacao Coatings Centre of Excellence, the Callebaut Chocolate Academy, a regional R&D facility, and a pilot lab. The facility hosts over 30 specialized roles.
• PaxOcean (Kuok Maritime Group)coreStrategic or Co-development Partner · 9 February 2026EDB and JTC Corporation jointly supported PaxOcean's opening of a S$200 million shipyard at 5 Jalan Samulun in Singapore's Jurong Industrial Estate. The 17.26-hectare facility includes two graving docks, one floating dock, and expanded quayside capacity. PaxOcean committed over S$3.5 million in R&D including a Centre of Excellence and Innovation Hub for maritime decarbonisation solutions. The facility achieved BCA Green Mark Platinum Super Low Energy certification.
• Singapore Aero Engine Services Limited (SAESL)coreStrategic or Co-development Partner · 5 February 2026SAESL signed MOUs with EDB and Singapore Polytechnic to strengthen end-to-end talent development for engine MRO operations. The partnerships support SAESL's S$242 million expansion programme and include plans to hire over 1,000 technicians over the next five years, with EDB supporting a new SAESL Training Academy and SP establishing an authorized training partner framework for aerospace MRO education.
• GE AerospacecoreStrategic or Co-development Partner · 4 February 2026EDB signed an MoU with GE Aerospace for a US$300 million multi-year investment (2025–2029) to expand engine repair and MRO capabilities in Singapore. This includes establishing an AI Center of Excellence, new module repair capabilities for CFM LEAP-1A/1B High-Pressure Turbines, and advanced automation and digitization technologies. GE Aerospace also partnered with Singapore's Civil Aviation Authority and International Centre for Aviation Innovation to launch SPAARC (Singapore Partnership for Aviation & Aerospace Research and Capability). GE Aerospace handles 60% of its global engine repairs in Singapore.
• RTX (Collins Aerospace and Pratt & Whitney)coreStrategic or Co-development Partner · 3 February 2026EDB signed multiple MOUs with RTX at the Singapore Airshow 2026, committing over US$139 million to expand aerospace manufacturing and MRO capabilities in Singapore. Collins Aerospace will expand MRO for Boeing 777X and 787 fleets; Pratt & Whitney will enhance GTF engine MRO and manufacturing footprint, including Fan Drive Gear System maintenance and Tuas coatings operations expansion by 25%. RTX is Singapore's largest foreign aerospace and defense employer with over 4,300 employees across 12 facilities.
• EUV TechminorStrategic or Co-development Partner · 28 January 2026EDB supported EUV Tech's grand opening of its first international office outside the United States at Mapletree Hi-Tech Park in Singapore. The expansion aims to enhance customer proximity and collaboration across Asia's semiconductor ecosystem, with plans to hire over ten employees in field service engineering and software engineering roles over three years. Key customers including HOYA Electronics attended the inauguration.
• WWF Singapore (Blue Carbon Support Programme)coreStrategic or Co-development Partner · 21 January 2026EDB partnered with WWF Singapore to launch the Blue Carbon Support Programme (BCSP) to develop high-integrity blue carbon projects across Asia through technological innovation, research grants, and capacity building. The programme focuses on improving measurement, reporting, and verification of carbon credits using digital and space-enabled technologies, positioning Singapore as a regional platform for high integrity blue carbon solutions.
• Hatch Blue (Blue Catalyst)coreStrategic or Co-development Partner · 12 January 2026EDB backed WWF Singapore and Hatch Blue's launch of 'Blue Catalyst' in 2026 — a 12-month open innovation challenge to develop technological solutions for high-quality blue carbon credits across Asia. The programme targets bottlenecks in MRV (monitoring, reporting, and verification) and culminates in a demo day and pitch competition in May 2026. Six companies were selected from over 130 applicants across 37 countries.
• JapfaminorStrategic or Co-development Partner · 2 December 2025Japfa launched an AI and Quantum Computing Centre of Excellence in Singapore, supported by Enterprise Singapore and EDB. The CoE applies AI, quantum computing, and data science to Japfa's vertically integrated livestock operations, with pilot projects in Vietnam (swine) and Indonesia (poultry). Collaborations include Singapore Institute of Technology, Nanyang Polytechnic, and AngelQ, positioned as part of Singapore's Trade 2030 strategy.
• ACCESS Health InternationalminorStrategic or Co-development Partner · 28 November 2025EDB partnered with ACCESS Health International to publish a report exploring strategies for digital health companies to scale from Singapore into the ASEAN region. The report, based on interviews with 26 digital health innovators, projects ASEAN healthcare spending to grow from US$420 billion to US$740 billion by 2025, positioning Singapore as the gateway to Asia-Pacific's third-largest digital health ecosystem.
• Bain & CompanycoreStrategic or Co-development Partner · 18 November 2025EDB supported Bain & Company's launch of an AI Innovation Hub in Singapore and its release of the 'Southeast Asia CEO's Guide to AI Transformation' report. The hub develops AI solutions for priority sectors including advanced manufacturing, energy, financial services, healthcare, consumer products, and retail. The report urged CEOs to prioritize growth and scalability over technology adoption alone given Southeast Asia's relatively low labor costs.
• Hyundai Motor GroupminorStrategic or Co-development Partner · 3 November 2025Hyundai Motor Group signed an MOU with EDB to develop hydrogen-based low-carbon infrastructure in Singapore, focusing on power generation and transport networks, aiming to expand Hyundai's hydrogen ecosystem initiatives across Southeast Asia. The partnership aligns with Singapore's Green Plan 2030 and involves collaboration with local mobility partners.
• FWD GroupminorStrategic or Co-development Partner · 10 October 2025EDB supported FWD Group's establishment of an AI Lab in Singapore, aligned with Singapore's National AI Strategy 2.0 (NAIS 2.0). The initiative aims to develop AI models for personalized insurance services by 2027, advancing AI and data science in insurance across the Asia Pacific region.
• Nearfield Instruments and A*STAR IMEminorStrategic or Co-development Partner · 20 May 2025EDB supported a multi-year research collaboration between Nearfield Instruments and A*STAR Institute of Microelectronics to develop advanced semiconductor metrology solutions for AI chip production and heterogeneous integration. The partnership addresses precision metrology for hybrid bonding to improve yields and reduce energy waste in AI chip fabrication, strengthening Singapore's semiconductor ecosystem.

Scale indicators14 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Invest Hong Kong (InvestHK): Hong Kong's department responsible for foreign direct investment promotion. The most direct regional competitor to EDB, with overlapping sector targets (financial services, fintech, innovation) and similar Asia-headquarters positioning.
• JETRO (Japan External Trade Organization): Japan's national investment promotion and trade facilitation agency. Directly comparable as a government IPA attracting FDI into Japan, with similar functions in business matching, incentives administration, and global office network.
• KOTRA (Korea Trade-Investment Promotion Agency): South Korea's lead IPA responsible for attracting FDI and supporting Korean companies going global. Directly comparable in mandate, incentive programs, and global field-presence model.
• IDA Ireland (Industrial Development Authority): Ireland's FDI and economic development agency. Closely comparable as a small, open economy IPA that has successfully attracted large multinationals in tech, pharma, and financial services through targeted incentives.
• UK Department for Business and Trade (DBT): UK government department responsible for trade policy, investment promotion, and business growth. Comparable in facilitating FDI into a major economy, running overseas investment promotion offices, and offering sector-specific support.
• Invest in Canada: Canadian government's investment promotion agency under the Department of Canadian Heritage / Global Affairs Canada. Directly comparable in helping foreign companies set up, expand, and access government programs.
• SelectUSA: U.S. federal investment promotion program within the International Trade Administration. Comparable as a national-level FDI attraction program with global outreach, though supported by a much larger domestic market.
• Thailand Board of Investment (BOI): Thailand's primary government agency for promoting investment. Comparable mandate around tax incentives, sector targeting, and facilitation, though typically competing with EDB for ASEAN-bound FDI.

Emerging players

• Abu Dhabi Investment Office (ADIO): Abu Dhabi's investment promotion arm backed by substantial sovereign capital. Comparable in actively luring strategic sectors (tech, advanced manufacturing, life sciences) with large incentive packages, increasingly competing for the same marquee MNC investments.

Regional players

• MATRADE (Malaysia External Trade Development Corporation): Malaysia's national trade promotion agency with a comparable mandate to support exports and FDI into Malaysia. Regional peer often competing with EDB for the same cross-border manufacturing investments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@SingaporeEDB
• Facebookfacebook.com/EDBsg
• LinkedInlinkedin.com/company/singapore-economic-development-board
• Instagraminstagram.com/singapore_edb
• Xx.com/singapore_edb

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Singapore Economic Development Board