Singapore is set to receive a massive investment from Amazon as the tech giant announces plans to double down on its cloud infrastructure in the city-state. The announcement was made at the AWS ASEAN Summit, where Amazon Web Services (AWS) Country Manager Priscilla Chong revealed that the company will invest $9 billion in Singapore over the next four years.
This investment is expected to support over 12,000 jobs at Singaporean businesses annually and add $23.7 billion to Singapore’s gross domestic product (GDP). It comes as part of a trend among United States-based tech companies expanding their presence in Southeast Asia, with Microsoft also recently announcing multibillion-dollar investments in artificial intelligence (AI) and cloud services in Malaysia, Thailand, and Indonesia.
The growing interest from major tech companies underscores the potential for AI to significantly impact Southeast Asia’s GDP, with estimates suggesting it could contribute nearly $1 trillion by 2030. As the world’s largest cloud infrastructure provider in the first quarter of this year, Amazon’s AWS remains a key player in the tech industry. The company reported a substantial rise in operating income, driven largely by the strong performance of its advertising and cloud businesses.
In conclusion, Amazon’s continued investments in Singapore and the Southeast Asian region demonstrate its commitment to growth and innovation in the cloud computing space. With major tech companies continuing to expand their presence in Southeast Asia, it seems that AI is set to have a significant impact on the region’s economic development.
