US e-commerce giant Amazon (NASDAQ:AMZN)announced that it has invested more than S$2 billion ($1.49 billion) across its retail and cloud businesses in Singapore in 2023, bolstering its presence in the Southeast Asian market and supporting over 10,000 indirect jobs.
The investment encompasses capital expenditure on infrastructure enhancements, including fulfillment centers, delivery stations, and data centers.
It also includes operating expenditure directed towards technology advancements, safety measures, expansion of customer programs, support for delivery partners and small and medium-sized enterprises (SMEs), as well as employee compensation.
According to third-party consultancy Keystone Strategy, Amazon’s investment has facilitated more than 4,000 indirect jobs in sectors such as construction, logistics, and professional services. Additionally, a survey conducted by Amazon revealed that Singapore businesses selling on its platform have generated over 6,000 jobs to support their Amazon-related activities.
Since commencing operations in Singapore in 2010 and launching Amazon.sg in 2019, Amazon has consistently invested in its operations to provide a faster and more convenient shopping experience for local customers. The introduction of services like Amazon Fresh and continuous enhancements to its platform have been part of this strategic investment.
Thousands of Singapore-based businesses, many of which are SMEs, are now selling their products on Amazon’s platform. Through Amazon Global Selling, these businesses have the opportunity to export their products to customers worldwide, expanding their market reach significantly.
To support its selling partners, Amazon has invested in various tools and services, including those leveraging generative artificial intelligence (AI). One such tool allows selling partners to use a URL from their own website to easily create high-quality product detail pages on Amazon, streamlining the listing process and saving valuable time.
In 2023, Amazon launched the “Singapore Cross-border Brand Launchpad” in collaboration with Enterprise Singapore and the Singapore Business Federation. The initiative aims to help over 100 local micro, small, and medium enterprises launch and scale their brands and access export opportunities in the United States by 2025.
Amazon Web Services (AWS), the company’s cloud computing arm, has been instrumental in supporting Singapore’s digital transformation since it began operations in the country in 2010.
Thousands of active Singapore customers, including prominent names like Grab, the Maritime & Port Authority of Singapore, Singlife, and Synapxe, utilize the AWS Asia Pacific (Singapore) Region to innovate and modernize their IT infrastructure securely and efficiently.
With over 25 years of experience in AI, AWS is collaborating with Singapore organizations to develop innovative solutions powered by AI and generative AI. Recently, AWS launched its AI flagship program, AWS AI Spring, a multifaceted collaboration with the Singapore government, public sector organizations, and enterprises to accelerate the adoption of AI technologies in the country.