Editing Economic Development Board (section)

===1961–present: Setting up of Jurong Industrial Estate and overseas missions===
By 24 November 1961, the agency was fully operational.<ref>{{cite news |title=Development Board in full operation |url=https://eresources.nlb.gov.sg/newspapers/Digitised/Article/freepress19611124-1.2.6 |publisher=The Singapore Free Press |date=24 November 1961}}</ref> In December 1961, the agency started offering free advice to nine electrical industries, releasing research materials to entrepreneurs and manufacturers.<ref>{{cite news |title=Government offers free advice on nine industries |url=https://eresources.nlb.gov.sg/newspapers/Digitised/Article/freepress19611209-1.2.40 |publisher=The Singapore Free Press |date=9 December 1961}}</ref> It also spearheaded development works at the 9,000 acre Jurong industrial estate.<ref>{{cite news |title=JURONG READY FOR INDUSTRY BY END OF NEXT YEAR |url=https://eresources.nlb.gov.sg/newspapers/Digitised/Article/freepress19611206-1.2.6 |work=eresources.nlb.gov.sg |publisher=The Singapore Free Press |date=6 December 1961 |language=en-SG}}</ref> In 1962, EDB introduced a simplified process of buying industrial land. An applicant would have to submit a building plan in three months and build in two years before a lease of land no more than 99 years be issued.<ref>{{cite news |title=Simplified way to buying industrial land |url=https://eresources.nlb.gov.sg/newspapers/Digitised/Article/straitstimes19620916-1.2.124.2.2 |work=eresources.nlb.gov.sg |publisher=The Straits Times |date=16 September 1962 |language=en-SG}}</ref> EDB received an additional grant of S$40 million to develop Jurong Industrial Estate from the Singapore government.<ref>{{cite news |title=$40 mil. for industry plan |url=https://eresources.nlb.gov.sg/newspapers/Digitised/Article/straitstimes19620901-1.2.16 |work=eresources.nlb.gov.sg |publisher=The Straits Times |date=1 September 1962 |language=en-SG}}</ref><ref>{{cite news |title=BOARD'S AIM: MORE AND MORE NEW INDUSTRIES FOR STATE |url=https://eresources.nlb.gov.sg/newspapers/Digitised/Article/straitstimes19620916-1.2.124.2.11 |work=eresources.nlb.gov.sg |publisher=The Straits Times |date=16 September 1962 |language=en-SG}}</ref>

1962 was also the year which Singapore begun to actively woo overseas industrialists as such the Japanese,<ref>{{cite news |title=Goh off to Tokyo to coax bigger capital flow to Singapore |url=https://eresources.nlb.gov.sg/newspapers/Digitised/Article/straitstimes19620302-1.2.41 |work=eresources.nlb.gov.sg |publisher=The Straits Times |date=2 March 1962 |language=en-SG}}</ref> with some indicating interests in joint development projects and sending study missions to Singapore.<ref>{{cite news |title=JAPANESE KEEN ON JOINT VENTURES HERE: MAYER |url=https://eresources.nlb.gov.sg/newspapers/Digitised/Article/straitstimes19620321-1.2.129 |work=eresources.nlb.gov.sg |publisher=The Straits Times |date=21 March 1962 |language=en-SG}}</ref> A Japanese economic survey mission led by Shinichi Takasugi, President of Mitsubishi and Head of Japan's Economic Cooperation Committee and the [[Japan Business Federation|Federation of Economic Organizations]]<ref>{{cite web |title=MR SHINICHI TAKASUGI, ONE OF JAPAN'S MOST POWERFUL … |url=https://www.nas.gov.sg/archivesonline/photographs/record-details/63f3ea3a-1162-11e3-83d5-0050568939ad |website=www.nas.gov.sg}}</ref> found that Jurong Industrial Estate was "the best site for industrialisation for Singapore."<ref>{{cite news |title=MISSION PRAISES JURONG SITE |url=https://eresources.nlb.gov.sg/newspapers/Digitised/Article/straitstimes19620906-1.2.22 |work=eresources.nlb.gov.sg |publisher=The Straits Times |date=6 September 1962 |language=en-SG}}</ref> A S$23 million shipyard joint venture between [[IHI Corporation|Ishikawajima-Harima]] and EDB was planned for as well.<ref>{{cite news |title=$23 mil. shipyard for S'pore |url=https://eresources.nlb.gov.sg/newspapers/Digitised/Article/straitstimes19620907-1.2.14 |work=eresources.nlb.gov.sg |publisher=The Straits Times |date=7 September 1962 |language=en-SG}}</ref><ref>{{cite news |title=SHIP REPAIR YARD PLAN |url=https://eresources.nlb.gov.sg/newspapers/Digitised/Article/straitstimes19620510-1.2.21 |work=eresources.nlb.gov.sg |publisher=The Straits Times |date=10 May 1962 |language=en-SG}}</ref>

EDB was also functioning as an industrial bank, offering loans to companies at "reasonable interest rates".<ref>{{cite news |title=Three more U.N. experts due soon |url=https://eresources.nlb.gov.sg/newspapers/Digitised/Article/straitstimes19620916-1.2.124.2.16 |work=eresources.nlb.gov.sg |publisher=The Straits Times |date=16 September 1962 |language=en-SG}}</ref><ref>{{cite news |title=THIS BOARD HELPS INVESTORS IN MANY WAYS |url=https://eresources.nlb.gov.sg/newspapers/Digitised/Article/straitstimes19620603-1.2.61.10 |work=eresources.nlb.gov.sg |publisher=The Straits Times |date=3 June 1962 |language=en-SG}}</ref>

Investing since 1991, EDBI is the dedicated corporate investment arm of the EDB, and a global investor in select high growth technology sectors covering Information & Communication Technology (ICT), Emerging Technology (ET), Healthcare (HC) and other strategic industries.<ref>{{Cite web |title=EDBI is the dedicated corporate investment arm of the EDB |url=https://www.edb.gov.sg/en/about-edb/who-we-are.html#:~:text=Investing%20since%201991,%20EDBI%20is,HC)%20and%20other%20strategic%20industries. |access-date=2023-03-05 |website=www.edb.gov.sg}}</ref>

Since 1 April 2019, the EDB manages DesignSingapore Council, the national agency for design. This is done to help companies expand beyond Singapore.<ref>{{Cite web |url=https://www.mci.gov.sg/pressroom/news-and-stories/pressroom/2018/11/dsg-to-transfer-to-edb-under-mti |title=DesignSingapore Council to transfer to EDB under MTI to drive design innovation across industries and enable growth beyond Singapore  |website=MCI |access-date=24 September 2019 |date=1 November 2018}}</ref><ref>{{Cite web|url=https://www.straitstimes.com/singapore/designsingapore-council-to-become-edb-agency-to-help-local-companies-expand-beyond|title=DesignSingapore Council to become EDB agency to help local companies expand beyond Singapore|date=2018-11-01|website=The Straits Times|language=en|access-date=2019-06-30}}</ref> It also manages Singapore Global Network, which was set up in 2019 to grow Singapore's networks and connections around the world.<ref>{{cite news|date=2 Jan 2020|title=EDB unit wants to go beyond keeping Singaporeans in touch|work=The Straits Times|publisher=|url=https://www.straitstimes.com/singapore/edb-unit-wants-to-go-beyond-keeping-sporeans-in-touch}}</ref>

The EDB maintains 20 international offices in 14 countries which includes Brazil, China, France, Germany, India, Indonesia, Japan, Netherlands, South Korea, Sweden, Switzerland, Thailand, United Kingdom and the United States.<ref>{{Cite web |title=EDB offices |url=https://www.edb.gov.sg/en/contact/edb-offices.html |access-date=2023-02-28 |website=www.edb.gov.sg}}</ref>