/Mathieu Stern from Unsplash

Singapore joins top 20 economies in investment appeal

Economies with the highest GOI scores were all high-income advanced economies.

Singapore fares well in the Global Opportunity Index (GOI) 2024, being one of the 20 economies deemed attractive in foreign investments.

The nation placed 14th in the overall analysis. Denmark led this year’s rankings, followed by Sweden, Finland, US, and UK, the report by Milken Institute showed.

Economies with the highest GOI scores were all high-income advanced economies (AE), which is composed of the EU, five G7 economies, and Singapore. Those in this range are major economic contributors in terms of gross domestic product, accounting for 64.5% of the world’s foreign capital inflows.

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The GOI rankings considered five aspects in which the country garnered varied scores:  business perception (6), economic fundamentals (29), financial services (18), institutional framework (3), and international standards and policy (18).

The report said the overall top-ranked economies performed well in all categories. Despite differences in scores, it emphasised the importance of establishing and keeping solid national institutions as a pillar for business success to attract foreign capital.

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