Amazon invested over S$2 billion in Singapore in 2023, driving over 10,000 indirect jobs for the market and supporting thousands of local businesses.
E-commerce giant Amazon announced it invested over S$2 billion in Singapore-based retail and cloud businesses in 2023, indirectly supporting more than 4,000 jobs in areas like construction, logistics, and other professional services and about 6,000 jobs related to sellers’ Amazon business activities.
Key areas of investment included logistics, technology, and digital tools. The company also invested in various networking initiatives like the “Singapore Cross-border Brand Launchpad”, which aims to expand local SMEs globally with the help of Amazon tools, resources, and expertise. Besides, Amazon supported a range of community programs, such as STEM education and digital inclusion, further contributing to local economic development.
Amazon’s investment in Singapore includes capital for enhancing infrastructure like fulfilment centres, delivery stations, and data centres, along with operating costs for technology, safety, customer programs, SME support, and employee compensation. The firm also contributes to sustainability in the region through renewable energy projects and packaging reduction.
Besides investments, Amazon provides its Singapore selling partners with a Global Selling option, enabling them to export their products to customers around the world. Amazon Web Services (AWS) additionally supports the digital transformation of the market. It helps to modernise IT systems and introduce innovation securely.
Thousands of local organisations, including Grab and the Maritime & Port Authority, use AWS to enhance their operations. With over 25 years of AI expertise, AWS collaborates with Singaporean businesses to develop pioneering AI solutions. Its flagship program, AWS AI Spring, partners with the government and enterprises to accelerate AI adoption and generative AI advancements in the region.
Furthermore, the tech and e-commerce giant aims to continue its investments in the regional ecosystem at an enhanced pace. It has recently committed to invest $9 billion in expanding its cloud computing infrastructure in Singapore.
