FX.co ★ Amazon To Pump $9 Bln Investment Into Singapore's Cloud Infrastructure

Amazon Web Services (AWS), a subsidiary of Amazon.com (AMZN), is set to invest around $9 billion (equivalent to 12 billion Singapore dollars) into developing Singapore's cloud computing infrastructure. The project, scheduled for the next four years, is predicted to stimulate economic growth and increase the uptake of cloud technology.

Priscilla Chong, AWS country manager for Singapore, suggests the investment will not only meet a burgeoning demand for cloud computing services but also boost digitalization and the application of artificial intelligence (AI) throughout the country.

Announced at the AWS ASEAN Summit, the investment plan could also create an estimated 12,300 full-time jobs annually, and promote special workshops aimed at encouraging businesses to adopt AI and cloud computing.

Chong emphasized AWS's ongoing commitment to the ASEAN region since its initial investment in Singapore in 2010. Key to this engagement has been the promotion of digital skills, along with a secure and resilient digital infrastructure for the entire region.

Since 2017, AWS has provided cloud computing training to over 400,000 individuals in Singapore with the intent to continue investing in skills development and productivity enhancement for years to come.

Senior Minister of State at Singapore's Ministry of Communications and Information, Tan Kiat How, spoke positively about AWS's investment. He highlighted the vital role of service providers such as AWS in enhancing the digital economy ecosystem. He added that, beyond providing fundamental digital infrastructure, cloud service providers enable businesses to effortlessly access digital resources, including storage and advanced capabilities like AI.

Beyond Singapore, AWS plans to contribute roughly $35 billion in resources across multiple countries, including Japan, Saudi Arabia, and Mexico. According to Bloomberg, the company is also planning to build data centers in Malaysia and Thailand.