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Dyson to invest $1.1 billion in Singapore as part of global plan -Breaking

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© Reuters. FILE PHOTO: The Dyson logo can be seen at 5th Avenue in New York City, New York (U.S.A), March 19, 2019. REUTERS/Carlo Allegri

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SINGAPORE (Reuters] – Dyson said Friday that the inventor of the bagless vacuum cleaner would spend S$1.5 billion ($1.1billion) in Singapore during the next four years. It is part of a S$4.9billion global investment program.

Dyson, when it announced its 2020 global investment strategy, stated that money would be divided among the company’s headquarters in Singapore, the two Wiltshire campuses, south England, and the Philippines.

It launched its global headquarters Friday in an old power plant in Southeast Asia. The company plans to employ more than 250 scientists and engineers.

They will cover machine learning and robotics as well as energy storage, high speed electric digital motors, and other areas.

Singapore serves as a central hub for Dyson’s engineering and research teams. It also hosts commercial, advanced manufacturing, and supply chain operations. The country has over 1,400 workers, 560 engineers and scientists.

Singapore, a low-tax global business centre, has been ramping up efforts to lure technology and research firms.

Lee Hsien Loong (premier minister) said that this was the future of technology companies and that it is open to all talent.

“It’s also the future of Singapore. To welcome talent and companies, it can help us become a hub for new ideas and scientific advances.”

James Dyson (british entrepreneur) founded Dyson’s company in the 1990s. He designed sleek products that ranged from air purifiers and hand driers to hair tools and vacuums.

Dyson, who is a billionaire Brexit advocate, plans to relocate his company’s headquarters to Singapore in 2019. This will be to make it more accessible to some of its most important markets. It triggered a backlash here.

Southeast Asia, Malaysia and China are Dyson’s main production bases.

Following an audit of the Malaysian firm’s labor practices and claims by a whistleblower, Dyson parted with ATA IMS Bhd last year.

Dyson’s air purifiers and vacuum cleaners are made of parts by ATA.

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