SINGAPORE – Singapore’s latest push to develop new infrastructure, expand tourism offerings and accelerate the adoption of artificial intelligence could open up a multi-decade investment story.
Prime Minister Lawrence Wong’s announcements during his National Day Rally speech on Aug 23 have laid out a broad road map for the country’s next phase of development, with several proposed mega projects potentially generating long-term investment opportunities.
Afdhal Rahman, executive director of wealth advisory at OCBC Bank, said the initiatives could create new avenues for growth across a range of sectors over the next 50 years.
Infrastructure, construction companies and utilities and power providers are among the most direct beneficiaries, while tourism-related plans could support airlines, hotels, entertainment businesses, food and beverage operators and transport companies.
Banks and other financial institutions could also benefit as the projects generate stronger demand for corporate and infrastructure financing, Afdhal said.
One of the most significant proposals is the potential merger of Pulau Semakau, Pulau Bukom and Pulau Sudong with smaller islands into a single larger western island.
Semakau is currently home to Singapore’s only landfill, while Bukom houses the country’s first refinery. Sudong, meanwhile, has an airstrip used by the Singapore Armed Forces during emergencies.
The expanded land area is envisioned primarily for industrial and power-related use, creating potential long-term opportunities for companies with established capabilities in infrastructure, utilities and clean energy.
For Singapore’s industrial incumbents, their existing infrastructure and expertise could put them in a strong position should the project move forward.
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