Singapore the top destination for US investments in Asia
Outgoing US envoy lauds country's 'very hospitable business climate'
Singapore, for the first time, has emerged as the most attractive investment destination in Asia for American companies, outperforming even China.
"The 10-year cumulative US investment in Singapore stood at US$138 billion (S$176.6 billion) at the end of 2012," United States Ambassador David Adelman, who leaves his post this week, told The Straits Times in an interview.
"You have now exceeded US investment into Japan and Australia, and you draw twice our investment into China. It is a credit to the Government of Singapore that it has created this very hospitable business climate in probably the best location in the world."
The 10-year investment figure - which jumped from US$116 billion the year before - is among the most visible highlights of the tightening strategic embrace between the most powerful nation and tiny Singapore, perhaps Asia's most admired country.
- More investment: 10-year cumulative US investment here at the end of last year was US$138 billion (S$176.6 billion), up from US$116 billion in 2011.
- More contact: There are 27,000 Americans living in Singapore, thousands of Singaporean students enrolled in US universities, and between 800 and 1,000 Singapore military personnel training in the US.