Singapore emerges as largest foreign investor over nine-month period
This comes as the total foreign direct investment (FDI) capital in the country by September 20, including newly granted and adjusted capital through capital contribution and share purchase value of foreign investors, reached a sum of US$21.2 billion, representing a decline of 18.9% on year.
As many as 1,947 newly licensed projects recorded registered capital of US$10.4 billion, marking a drop of 29.4% in terms of the number of projects, along with a 5.6% fall in registered capital compared to the same period last year.
The GSO also report that disbursed FDI capital throughout the reviewed period stood at an estimated US$13.8 billion, down by 3.2% from the corresponding period last year. Of the figure, the processing and manufacturing industry enjoyed capital of US$9.8 billion, accounting for 71.2% of the total realised FDI capital. In addition, real estate businesses reached approximately US$2 billion, making up 14.3% of the total, whilst production and distribution of electricity, gas, hot water, steam, and air conditioners were close to US$1 billion, making up 6.9% of the total.
Most notably, the sectors which attracted the most FDI during the reviewed period include the processing industry, manufacturing, real estate firms, along with the production and distribution of electricity, gas, hot water, steam, and air-conditioning.
Out of a total of 72 countries and territories which have newly licensed investment projects in the nation since the start of the year, Singapore represented the largest investor with US$4.7 billion, accounting for 44.9% of total newly registered capital. The island state was followed by China with US$1,079.7 million, the Republic of Korea (RoK) at US$1,076.6 million, Hong Kong (China) at US$876.1 million, and Taiwan (China) at US$852.4 million.