Throughout 2021, ASEAN member countries received a total of US$174 billion in foreign direct investment (FDI). This was reported by the ASEAN Secretariat in the ASEAN Investment Report released in September 2022.
"Foreign direct investment flows into ASEAN in 2021 increased by 42% from the previous year. This demonstrates the region's strong resilience, despite being hit by waves of the pandemic multiple times," the report stated.
In 2021, Singapore received the largest inflow of foreign investment among ASEAN countries, totaling US$99.1 billion. This figure also marks the largest foreign investment ever received by Singapore in its history.
"The inflow of foreign investment into Singapore was driven by a strong recovery in manufacturing investment, particularly in the electronics and biomedical industries," the report explained.
Indonesia followed in second place, receiving US$20.1 billion in foreign investment. Vietnam, Malaysia, Thailand, the Philippines, Cambodia, Laos, Myanmar, and Brunei Darussalam followed, with details as shown in the graph [Note: Graph not included in this translation].
Throughout 2021, the majority of foreign investment into ASEAN originated from the United States, China, and Japan.
Foreign investment from the United States to ASEAN reached US$40 billion, largely flowing into the banking and finance, electronics, biomedical, and pharmaceutical sectors.
Foreign investment from China to ASEAN reached US$13.6 billion, primarily entering the manufacturing sector, industries related to electric vehicles, the digital economy, infrastructure, and real estate.
Investment from Japan reached US$12 billion, mostly flowing into the manufacturing sector, electronics and automotive industries, including electric vehicles.