Business investment commitments into Singapore rose 13% last year to their highest in more than a decade, helped by sectors such as semiconductors, energy and chemicals even as the city-state suffered its worst recession from the COVID-19 pandemic. Commitments for investments in fixed assets such as facilities, machinery and other equipment swelled to S$17.2 billion ($13 billion) in 2020, well above a medium- to long-term goal of S$8 billion to S$10 billion, data from the Economic Development Board (EDB) showed on Wednesday. The figure is the highest since 2008. When the projects from these investments are fully implemented, they will create 19,352 new jobs in the coming years, the EDB said. Commitments by total business expenditure, whose major components include wages and rental, fell 24% to S$6.8 billion. Still, Singapore bagged some major wins in 2020, with China’s Tencent, Zoom Video Communications Inc and TikTok owner ByteDance planning major expansions in the city-state.