If there was any doubt about which financial centre is the most active among Association of South-east Asian Nation (Asean) hubs, foreign direct investment (FDI) data helps clear the picture. Singapore is by far the largest magnet for financial services FDI in the region, with nearly six times the investment that goes into second placed Manila, according to estimates by database fDi Markets for projects between November 2016 and October 2017.
Singapore’s $1.11bn also represents an improvement on its inflows in the previous review period. Among the largest estimated investments into the city-state are Swiss Re’s new subsidiary, which is set to become the Asian headquarters for reinsurance from 2018; and Hubert Burda Media’s Asian headquarters, from which the German firm will invest in technology companies in the region.
