In 2021, Singapore experienced a strong rebound in outward greenfield investments, mainly through investments in real estate, retail and the setting-up of data centres. The recovery in Singapore’s greenfield FDI outflows overtook most of the other top Asian investors.
- Australia emerged as a top greenfield FDI destination for Singapore in 2021. China-Australia bilateral issues resulted in Singapore overtaking China in Australian FDI approvals.
- Mexico was also a preferred greenfield FDI destination for Singapore in 2021. Interestingly, Mexico and Singapore ratified the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in 2018. The trade agreement may have led to stronger FDI ties between Singapore and Mexico.
Article By GEORGE, Ammu
Graphic By Yixuan GE