The Association of Southeast Asian Nations (ASEAN) attracted 136.2 billion U.S. dollars of foreign direct investment (FDI) in 2014, up from 117.7 billion in 2013, marking a rise of FDI flows for the third consecutive year, a report said on Saturday.[Special coverage]
The achievement, made against the backdrop of a 16 percent decline in global FDI flows and uneven global economic growth, also made ASEAN the largest FDI recipient last year in the developing world, according to the ASEAN Investment Report 2015: Infrastructure Investment and Connectivity.
The improvement of the region's investment environment, as well as regional integration process to establish the ASEAN Economic Community by the end of 2015 contributes to the attractiveness of the region for FDI, in addition to the strong regional economic fundamentals and market growth, said the annual report.
"The region is now seen as a prime investment destination, attracting investments and influencing corporate strategies in the region," due to robust regional economic fundamentals, cost advantages, regional integration, and on-going efforts to improve the investment environment in ASEAN, said Le Luong Minh, the secretary-general of ASEAN.
"With strategic measures in the ASEAN Community Vision 2025 aimed to establish an open, transparent and predictable investment regime in the region beyond 2015, ASEAN will continue to make the region a foremost investment destination globally," the ASEAN chief added.
According to the report, FDI flows from the majority of ASEAN's dialogue partners have been strong, while intra-ASEAN investment also rose by 26 percent to 24.4 billion U.S. dollars in 2014 from 19.4 billion in 2013.
