FDI stock for pharmaceutical and biological products Singapore 2013-2022

In 2022, the foreign direct investment (FDI) stock for pharmaceutical and biological products in Singapore was valued at 15.77 billion Singapore dollars, a slight increase compared to the previous year. The government’s Biomedical Sciences (BMS) initiative, launched in 2000, resulted in increased FDI flows in Singapore’s pharmaceutical industry. 

How does FDI affect the pharmaceutical industry in Singapore?

As part of the government's efforts to develop the pharmaceutical industry in Singapore, an international R&D center for the biomedical sciences sector, Biopolis, was constructed in 2004. The aim was to provide a dedicated space for biomedical sciences research and development. Biopolis has helped to attract foreign and private investments in the industry. Through this, Singapore is now home to some major global pharmaceutical companies that do not only have their operations there but also support R&D activities in the country’s industry. Since 2013, the country has reported an upward trend of FDI earnings for pharmaceutical and biological products.

Pharmaceutical industry outlook

Singapore is among a few countries worldwide whose pharmaceutical export value far exceeded the import value. Due to the government's large investments and FDI in the industry, the manufacturing output of the pharmaceutical industry has been valued at approximately 18 billion Singapore dollars on average since 2010. Taking these into consideration, the pharmaceutical industry in Singapore may continue to grow stronger.