Singapore : EDB : Keeps Spending in Media and InfoComm Sector

Television Asia: "... Singapore�s EDB keeps 2004
spending level Singapore�s Economic Development Board (EDB) expects to spend 32% of its budget this year on the country�s infocomms and media sector. This is similar to last year�s levels, which amounted to S$623 million/US$368 million, and made the sector second only to spending on generating development of headquarters/professional services. However, 2003�s levels were almost 27% down on 2002, when spending on the sector hit US$499 million of a total of US$1.2 billion. Last year�s total EDB commitments dropped to US$1.1 billion. The EDB said confidence was high that the business environment would improve in 2004. Details of new media projects were not disclosed. Existing projects include production funds with Discovery and National Geographic, which have a combined value of US$18.6 million"