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To meet growing customer demand for cloud technology and services, Amazon Web Services (AWS) plans to invest S$12 billion (US$9 billion) into its existing cloud infrastructure in Singapore from 2024 to 2028. This adds to the already sizeable S$11.5 billion cloud investment in the country. The announcement was made at the 10th AWS ASEAN Summit event in Singapore on May 7.
According to a new AWS Economic Impact Study (EIS), this new planned investment, in addition to previous AWS investment commitments, will contribute S$23.7 billion to Singapore’s GDP by 2028, and support an estimated average of 12,300 full-time equivalent (FTE) jobs in local Singapore businesses each year. These positions, including construction, facility maintenance, engineering, telecommunications, and other jobs within the country’s broader economy, are part of the AWS data center supply chain in Singapore.
This investment will create a ripple effect across Singapore by increasing economic growth and cloud adoption. It also brings additional contributions to the local economy by AWS, such as upskilling the local digital workforce, developing renewable energy projects, and creating a positive impact in the communities where AWS operates.
Contributing to Singapore AI Strategy
In addition to the cloud investment, AWS announced support for Singapore’s Smart Nation and National AI Strategy 2.0 (NAIS 2.0) goals with a new flagship AI program called AWS AI Spring for Singapore. This is a multifaceted collaboration with the Singapore Government, public sector organisations, and enterprises to help accelerate the adoption of AI and generative AI in Singapore.
Six strategic pillars constitute Amazon’s AI program, which is aligned with Singapore’s S$1 billion investment in NAIS 2.0 to further catalyze AI activities, and aims to drive benefits to AWS’ customers, partners, and community:
AI Spring Public Sector – to collaborate on driving AI initiatives within the Singapore Government and government agencies to benefit industries and citizens
AI Spring Workforce – a series of AI skilling and professional certification programs
AI Spring Enterprise – to drive AI adoption in local enterprises
AI Spring Startups – to nurture core AI startups in Singapore
AI Spring Communities – to contribute to community development with AI
AI Spring Research and Development – to drive R&D for and with AI