NEW YORK - Flows to developing countries in Asia fell by 8% to $621 billion, with China, the world’s second-largest FDI recipient experiencing a rare decline. India and West and Central Asia also saw significant drops, while South-East Asia held steady.

Developing economies of Asia are home to 60% of the world’s megaprojects, the latest World Investment Report shows.

The World Investment Report 2024, published on 20 June, spotlights a significant increase in greenfield foreign direct investment (FDI) to developing economies in Asia.

In 2023, these economies experienced a 44% rise in the overall value of greenfield investment announcements and a 22% increase in the number of such announcements, where companies establish or expand their operations overseas.

More broadly, while foreign investment flows to developing Asia receded in 2023, they remained high at $621 billion.

The continent, led by East and Southeast Asia, continued to be the world’s largest recipient of FDI, accounting for nearly half of global inflows.

Cross-border mergers and acquisitions (M&A), which usually constitute 10% to 15% of foreign investments in developing Asia, declined by almost $30 billion to $57 billion in 2023. This decline accounted for about half of the total drop in FDI inflows to the region.

China and its Hong Kong Special Administrative Region (SAR) continue to be the largest investors in the region by total FDI stock, followed by the United States, Japan, and Singapore.

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