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SINGAPORE: American companies remain committed to Singapore despite rising business costs, but more needs to be done to ensure the country continues to attract investment, said the CEO of the American Chamber of Commerce in Singapore (AmCham).<\/p>\n
In an interview with CNA, Dr Lei Hsien-Hsien said high operating costs, hiring challenges and the rapid adoption of artificial intelligence are prompting companies to rethink where they invest and locate teams across the region.<\/p>\n
Dr Lei added: “I think the cost of doing business (in Singapore) has been quite challenging in some ways; even though talent is very strong here, they do command a higher salary, which means that some jobs are going overseas to other countries.”<\/p>\n
According to AmCham’s 2025 Manpower Survey, employers hiring entry-level talent find it challenging to recruit local candidates with the necessary technical skills, as well as realistic salary and promotion expectations.\u00a0<\/p>\n
But Dr Lei noted that businesses continue to balance the costs of operating here against the benefits it offers, including the country\u2019s connectivity to the region.<\/p>\n
“The Singapore commitment is here. I think that there’s some work to do to make sure that it is cost-effective and efficient and productive to continue to bring your company to Singapore and think about Singapore also as a gateway to the rest of the region.”<\/p>\n<\/div>\n
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