Singapore Attracts Global Businesses as A Prospective Destination

Southeast Asia, particularly Singapore, has emerged as an exceptionally desirable destination for expansion, attracting the attention of 27% of global corporations, according to the 2023 Asian Investment Survey done by consulting firm S-RM. The research underlines how crucial regional investment centres include Vietnam, Malaysia, the Philippines, and Indonesia.

The poll results provided insight into the causes of this rising interest in Southeast Asia. It demonstrates that 45% of the respondent's motivation to look into investment prospects in the region was driven by domestic policies put in place by governments, giving incentives or subsidies in particular industries of interest.

Despite substantial upheavals seen in recent years, Morgan Stark, Head of Corporate Intelligence, Asia at S-RM, emphasises the persistent optimism present among global corporations toward investment in the Asia-Pacific (APAC) region. APAC is viewed as a significant development area by most enterprises questioned in each market, according to Stark, who dismisses worries about the long-term effects of the Covid-19 outbreak and escalating geopolitical tensions.

The report highlights new investment opportunities outside of Southeast Asia as well. According to 26% of respondents, South Asia, which includes nations like India, Pakistan, and Bangladesh, offers profitable investment opportunities. China and Hong Kong have garnered the interest of 20% of businesses, while Australia and New Zealand attract 13%, and Japan and South Korea account for 12% of global businesses' considerations for investment destinations.

In conclusion, the thorough survey confirms Southeast Asia's allure as a top location for international corporate expansion, including Singapore. It also highlights additional investment opportunities in the APAC area, highlighting the generally optimistic attitude toward investing there.