It’s the time of the year when the PAP administration will do via the EDB its regular Trump-like claim that it met the FDI target for the previous year, and talk about jobs and value-add to the economy.
So remember this extract from the Economist, the PAP’s real bible or sacred text*
But these days FDI does not always result in a new factory, research facility or office building, with new jobs to match it. Often it amounts to a transfer of intangible assets for the purpose of lowering corporate tax.
*Singkies real dumb. No need pay millions for ministers. Juz subscribe to the Economist.