Chart of the Week May 20, 2022: Singapore’s Greenfield Investments Abroad


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

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