What it Does: EDB develops and implements initiatives to keep Singapore a top international centre for trade and investment.
Mission: EDB’s goal is to help Singapore achieve sustainable economic growth that includes thriving businesses and worthwhile employment opportunities.
Size and Presence: It has offices in Singapore with around 500 employees.
Best Known For: EDB is in charge of developing initiatives to strengthen Singapore's stature as a hub for commerce, innovation, and ability on a worldwide scale.
The Good Bits: In comparison to other government organisations, it is less hierarchical here since top management is personable and receptive to suggestions.
The Not-So-Good Bits: Expect a tough workload overall, a tonne of paperwork, and collaboration with other federal agencies.
The Singapore Industrial Promotion Bill, which established the Singapore Industrial Promotion Board (SIPB) in 1957, gave the Singapore Government the authority to create, advance, and finance industrial projects.
At the time of its inception, it had a capital of $1 million and had been approached by local businesses seeking loans of up to $500,000. The democratic opponents, however, condemned SIPB for being sluggish, opaque, and inefficient in assisting neighbourhood businesses. The board was constrained by the small amount of cash it possessed, and the Minister of Commerce and Industry, J. M. Jumabhoy, laid the blame for the lack of investment from banking institutions on the actions of radical left-wing politicians.
The Singaporean government proposed a new Economic Development Board (EDB) in 1959, with a $100 million capital. The government would use a portion of the $300 million in prior foreign contributions to help finance the new board. It would also be a regulatory board, and in complement to the duties now carried out by the SIPB in the form of loan disbursements to businesses, it would directly assist in the establishment of factories or utilize its funds for regional joint venture initiatives with the corporate companies.
EDB are big believers in hard work and hard play. EDB executives are devoted people who work hard to improve the economy and industries of Singapore.
At EDB, you'll also discover that you join a family. EDB helps one another out, pooling the institutions’ talents to do the best work, and of course, the institution enjoys wonderful meals and fun together.
On one day, you could meet with clients and tour sites; on another, you might formulate a strategy and examine market trends. The dynamic culture of EDB mirrors the constantly shifting nature of the world economy. When projects are completed successfully and investments have been made, EDB executives proudly celebrate their accomplishments.
The EDB hiring process includes:
The average annual salary of a fresh graduate at EDB Singapore is SGD 25,000.
Global expansion in the renewable energy industry is being fuelled by legislative and technical advances. Clean energy businesses are expanding their capacities, productizing their goods, and distributing them to other countries in Singapore.
Singapore has employed technology to invent and develop novel water processing and management methods, such as water recycling and process water, in response to the issue of maintaining water self-sufficiency. The nation has now turned its need for water into a strength.
There are no recent published controversies about EDB.