FDI inflows ASEAN 2023, by country

In 2023, Singapore received foreign direct investment (FDI) of nearly 160 billion U.S. dollars. In contrast, Brunei recorded negative FDI values of around 57 million U.S. dollars that year. FDI inflows to ASEAN countries amounted to almost 230 billion U.S. dollars in 2023.

Foreign direct investment in Singapore

Singapore has been successful in creating a favorable investment climate for foreign investors with attractive legal frameworks and policies. A catalyst in the country’s economic growth, foreign direct investment net inflows in Singapore experienced a significant increase in the last decade. A closer look at the sectorial distribution shows that the foreign direct investment in the financial and insurance services sector in Singapore accounts for more than half of the FDI inflows in the country in 2022. In 2023, Singapore was listed third among the leading economies for foreign direct investment inflows globally.

Foreign direct investment in the ASEAN region

A regional overview of the foreign direct investment inflows to the ASEAN region by economic sector reveals a higher concentration of investments in the finance and insurance sector, followed by manufacturing, as well as the wholesale and retail trade industry. For instance, industry-wise foreign direct investment inflows to Vietnam in 2023 went mainly to manufacturing, with a share of over 64 percent of the country’s total FDI.  Nevertheless, other economic sectors such as services or real estate, among others, attract considerable amounts of FDI inflows throughout the region.