Dyson To Invest S$1.5bil In Singapore
SINGAPORE – Renowned tech firm Dyson announced today that under the newest phase of its S$4.9 billion global investment programme, it plans to invest S$1.5 billion ($1.1 billion) into its global head office in Singapore in the next 4 years, reported Reuters on Friday afternoon (25 March, SGT).
When the company announced the global investment plan in 2020, it specified that the funds will be divided between its global headquarters in Singapore, its two campuses in Wiltshire at southern England, and in the Philippines.
On Friday, Dyson officially opened its new global headquarters at the St James Power Station, a restored electricity plant in Singapore, where it intends to recruit over 250 additional scientists and engineers.
The new hires will be involved in robotics, energy storage, machine learning, high-speed electric digital motors, and many more.
Notably, the city-state is a crucial hub for Dyson’s engineering and research teams, in addition to its advanced manufacturing and supply chain operations and commercial operations. In fact, it has over 1,400 employees in Singapore, including 560 scientists and engineers.
Also, the Southeast Asian nation is a low-tax global financial hub that has been striving to attract technology and research companies.
“This is the future for technology companies – to go wherever talent is available and made welcome,” said Singapore’s Prime Minister Lee Hsien Loong during the launch of Dyson’s global headquarters.
“It is also the future for Singapore – to welcome companies and talent, which can help make us a hub of new ideas and scientific progress.”
Established by British billionaire and inventor James Dyson in the 1990s, the company has gained a reputation for making innovative products, like its famous bagless vacuum cleaner, hand driers, and air purifiers.
In 2019, it announced plans to relocate its global headquarters from the UK to Singapore in a bid to be nearer to its fastest-growing markets. Southeast Asia is a major manufacturing base for Dyson, with Malaysia serving as its 2nd largest global hub.