Singapore is amongst top global investment destinations: report
More than a quarter of global businesses look to Southeast Asia for expansion.
A total of 27% of global businesses are looking at Southeast Asia, including Singapore, for their expansion, the 2023 Asian Investment Survey reported.
Also amongst the leading investment destinations in the region include Vietnam, Malaysia, the Philippines, and Indonesia.
The report, conducted by consultancy firm S-RM, found that this interest in the region is largely driven by the impact of domestic policies to introduce incentives or subsidies in a sector of interest (45%).
“Despite the impact of the last few years, which have obviously been incredibly disruptive for global businesses, the overall attitude towards investment in the APAC region remains very positive,” Morgan Stark, Head of Corporate Intelligence, Asia at S-RM, said.
“A strong majority of businesses in every market polled identified the region as a major growth area, defying worries about the long-term impact of Covid and rising geopolitical tensions.”
After Southeast Asia, global businesses also consider South Asia (including India, Pakistan, and Bangladesh). The region is also selected as the biggest opportunity by 26% of global respondents.
China and Hong Kong (20%), Australia and New Zealand (13%), and Japan and South Korea (12%) also followed.