S'pore leads Asia in attracting foreign investments

Milken Institute index cites its strong economic growth and transparency

- Angela Tan

Singapore is the most attractive country in the region for foreign investments, but it falls behind some advanced economies in terms of environmentally friendly and socially inclusive growth, according to a new index.

The Milken Institute's Global Opportunity Index ranked Singapore first among its Asian neighbours in 2023, and 14th among the 130 countries studied globally-up four places from 2022.

Hong Kong at 15th and Japan at one spot below were the other two Asian economies in the top 20 globally.

Denmark came in first globally, with Sweden dropping to second, followed by Finland in third. The United States moved up one spot to fourth.

Dr Maggie Switek, the Milken Institute's senior director and the report's lead author, told The Straits Times that Singapore's climb up the league table was due to relatively strong economic growth.

Its high position was also driven mainly by its strength in "business perception", which measures the ease of doing business and the regulatory framework facilitating contract enforcement and dispute resolution.