JETRO Invest Japan Report 2024
Chapter1. Global Trends in Inward FDI Section 2. Global Greenfield Investment in 2023

Strong investment in emerging countries/regions, particularly in Asia

According to the UNCTAD, the amount of greenfield investment announced for 2023 was 1,380.4 billion US dollars (up 5.4% year on year), roughly maintaining the previous year's level. Investment in developed countries and regions declined 8.2% year on year, but investment in emerging countries and regions was strong, mainly in Asia with a 20.5% increase year on year. Among them, East Asia (excluding Japan and South Korea) recovered to the level prior to the previous year's decline with 46.3 billion US dollars (up 64.9% year on year). Investment in Africa also remains solidly strong with 174.7 billion US dollars in 2023, albeit at a 10.8% decrease. Japan saw a remarkable increase, more than tripling from the previous year, in response to the significant decline in the previous year. It ranked 17th in the world.

Chart 1-3: Global Greenfield Investment (announced basis) (Million US dollars、％)
Country/Region	2021	2022	2023	2023 Growth rate (YoY)
World	829,693	1,309,067	1,380,401	5.4
Developed economies	536,858	687,018	630,989	-8.2
Europe	321,247	391,326	358,482	-8.4
European Union	227,166	265,275	262,327	-1.1
Germany	62,937	47,432	56,723	19.6
France	14,658	22,241	31,428	41.3
United kingdom	65,807	107,133	65,224	-39.1
Russia	14,928	299	1,197	300.3
North America	133,780	198,607	178,076	-10.3
United States	109,279	175,127	141,793	-19.0
Other developed economies	81,831	97,086	94,431	-2.7
Australia	14,475	70,111	44,121	-37.1
Japan	24,785	9,042	30,831	241.0
Developing economies	292,835	622,048	749,412	20.5
Asia (including Middle east)	170,863	312,643	451,328	44.4
East Asia	44,926	28,103	46,340	64.9
China	35,807	21,855	37,538	71.8
Hong Kong	3,921	2,996	4,260	42.2
Southeast Asia	67,874	112,964	175,217	55.1
Singapore	13,306	18,279	11,355	-37.9
Indonesia	9,234	24,292	60,604	149.5
South Asia	21,064	83,859	108,580	29.5
India	16,684	81,030	83,364	2.9
Latin America and the Caribbean	69,706	112,057	122,308	9.1
Brazil	23,541	21,423	36,195	69.0
Africa	52,211	195,957	174,745	-10.8

Note:

Japan and Korea are classified as "Other developed economies," not as "East Asia."
Data refers to estimated value of capital investment. Data does not include those through financial center in Caribbean countries/region.
Classification is as defined by UNCTAD.
Source:

Based on UNCTAD data.

Chart 1-4: Top 10 Countries/Regions Receiving Green Investment in 2023 (Million US dollars, %)
No.	Country/Region	2023	2023 Growth rate (YoY)
1	United States	141,793	-19.0
2	India	83,364	2.9
3	United Kingdom	65,224	-39.1
4	Indonesia	60,604	149.5
5	Gremany	56,723	19.6
6	Australia	44,121	-37.1
7	Egypt	41,904	-61.2
8	China	37,538	71.8
9	Malaysia	36,844	56.5
10	Canada	36,283	54.5
17	Japan	30,831	241.0

Source:

Based on UNCTAD data.

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