Amazon injects S$2 billion into its Singapore businesses in 2023

AMAZON on Thursday (Nov 28) announced that it injected more than S$2 billion into its retail and cloud businesses in Singapore in 2023.

The outlay comprised capital expenditure, including improvements to existing infrastructure such as fulfilment centres, delivery stations and data centres.

It also covered operating expenditure, such as expenses related to technology, safety, the expansion of programmes for its customers, delivery partners, small and medium business, and employee compensation.

Third-party consultancy firm Keystone Strategy indicated that the online retail behemoth’s investment in the city-state supported more than 4,000 “indirect jobs” in areas such as construction, logistics and other professional services.

An Amazon survey also found that Singapore businesses that conducted sales on the platform created more than 6,000 jobs to support their Amazon-related business activities.

In May, the company’s subsidiary Amazon Web Services announced that it would commit S$12 billion to its existing Singapore cloud infrastructure over the next four years to meet rising demand for cloud services.

This came on top of its previous S$11.5 billion injection into the Republic from 2010 to 2023.

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