Salesforce Unveils $1 Billion Investment in Singapore’s Digital Future

DAVOS, Switzerland — Salesforce announced on January 22, 2025, its plan to invest $1 billion in Singapore over the next five years, aiming to accelerate the nation’s digital transformation and enhance its flagship AI offering, Agentforce.

The cloud software company revealed that this significant investment is part of its broader strategy to tap into growing revenue streams from generative AI technologies. Salesforce recently launched the newest version of Agentforce, which is designed to tackle complex queries through the Salesforce Slack platform using a wide range of available data.

Salesforce CEO Marc Benioff expressed enthusiasm about the investment during an interview on CNBC’s Squawk Box at the World Economic Forum. “We have had a fantastic experience here. We’ve been here for about 25 years at Salesforce, and we’re investing another $1 billion in our operations here,” he stated. “We don’t just do sales and marketing here. We also do extremely advanced artificial intelligence development.”

Benioff emphasized that Salesforce employs many of the top AI engineers globally at its Singapore research center. He believes that Agentforce will significantly contribute to expanding Singapore’s labor market, particularly in critical service and public sector roles, amidst ongoing economic challenges.

Jermaine Loy, managing director of the Singapore Economic Development Board, welcomed the investment, highlighting its potential to establish Singapore as a leading hub for AI innovation. “Salesforce’s commitment will bolster our efforts to develop a vibrant AI ecosystem,” Loy noted.

In a related context, Singapore’s Deputy Prime Minister Gan Kim Yong addressed safeguards for continued growth opportunities in Asia despite rising global trade tensions. “Even if some of us in Asia may not be directly affected, the impact of rising tariffs and trade wars could cause major disruptions to supply chains,” he said at the CONVERGE LIVE event, urging for an integrated framework for trade.

Gan underscored that Asia’s economy is projected to grow, expanding from about 50% of the world’s GDP today to approximately 60% by the year 2030, attracting interest from emerging markets.

He also discussed regional trade agreements, including the ASEAN Trade in Goods Agreement (ATIGA) and the Regional Comprehensive Economic Partnership (RCEP), which is noted as one of the world’s largest free trade agreements. According to Gan, these agreements showcase the region’s commitment to maintaining an open, inclusive, and rules-based trading system.