Amazon To Double Singapore Investment To $17 Billion With Cloud Project

Amazon is doubling its total investment commitment in Singapore to S$23.5 billion ($17 billion) as it plans to invest an additional S$12 billion to expand its cloud computing infrastructure in Singapore, adding to signs the tech boom in Southeast Asia is accelerating.

The project to be undertaken by Amazon Web Services in the next four years would enable the global tech giant to meet the growing demand for cloud computing services and accelerate the adoption of artificial intelligence across Southeast Asia.

“AWS has been deeply committed to helping Singapore grow its economy, workforce, and digital prowess with cloud and advanced technologies since it launched its first Asia Pacific infrastructure region here over a decade ago,” Priscilla Chong, AWS Singapore country manager, said in a statement. “AWS is doubling down on its cloud infrastructure investments in Singapore from 2024 to 2028 to support customer demand, and help reinforce Singapore’s status as an attractive regional innovation launchpad, and a global leader in digital competitiveness.”

The company has in recent years through 2023 invested S$11.5 billion in Singapore, where it supports clients including superapp Grab, the Maritime Port Authority of Singapore and insurer SingLife.

AWS joins Apple and Microsoft in expanding cloud infrastructure and accelerating AI adoption in Southeast Asia as U.S. tech giants diversify away from China amid heightened tensions between Beijing and Washington. The company said its latest investment in Singapore is expected to create more than 12,000 jobs from this year through 2028.

“This investment will create a ripple effect across Singapore by increasing economic growth and cloud adoption,” Chong said. 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.”