Foreign Educational Institutions Receiving Financial Incentives from EDB

Ms Mary Liew asked the Minister for Trade and Industry (a) how many foreign educational institutions have received financial incentives from EDB to establish their presence in Singapore; (b) what is the total amount of financial incentives offered to these foreign educational institutions to date; and (c) whether there has been any recourse to recover the monies from failed ventures.

Since 1999, EDB has disbursed $73 million in grants and $172 million in loans to 11 foreign educational institutions to establish and expand their presence in Singapore. The level of support provided is calibrated to be commensurate with the benefits which they are expected to bring to Singapore.

EDB closely monitors the progress of the foreign educational institutions it supports through regular reviews of incentive milestones progress and annual audited financial statements of the institutions. Should an institution decide to terminate its operations in Singapore, EDB will assess the institution's progress towards meeting its pre-agreed deliverables and its past economic contributions to Singapore, before deciding on the amount of grant monies that should be returned to EDB. EDB also requires all loans to be repaid, regardless of whether an institution decides to remain in or leave Singapore.