Foreign Direct Investments in Emerging Asia

Paul Cheung is Director of Asia Competitiveness Institute, Lee Kuan Yew School of Public Policy. He leads a team of researchers examining socioeconomic development trends and prospects of Asia and the Pacific. He was previously the Director of the United Nations Statistics Office. At the UN, Professor Cheung facilitated the development of the global statistical system. He supervised a programme of work that included tracking global data flows and setting global statistical standards. Professor Cheung also served as Chief Statistician of Singapore and the Director of Population Planning Unit, concurrent with his teaching responsibilities at National University of Singapore. Professor Cheung received many national and professional awards for his work around the world. He did his post- graduate studies at the University of Michigan, Ann Arbor. Ammu George is Research Fellow at the Asia Competitiveness Institute, Lee Kuan Yew School of Public Policy, National University of Singapore. She holds a PhD in Economics from Nanyang Technological University. Her research interests are mainly in international macroeconomics, banking and monetary policy. Her research papers have been published in journals such as Energy Economics and Economic Modelling. Previously, she worked as an economist with Ernst & Young and Willis Towers Watson. Xuyao Zhang is Senior Research Fellow and Assistant Director (Programmes) at the Asia Competitiveness Institute, Lee Kuan Yew School of Public Policy. Dr Zhang received his PhD in Economics from NUS. His research focuses on industrial organisations, applied game theory and public economics. In particular, he is interested in technology transfers and anti- trust policies. He studies the optimal environmental taxation on the pollution problems in the presence of corruption. He also works on the benefits of research joint ventures with technology transfer. At ACI, he supervises all the Competitiveness Projects (ASEAN, China, India and Indonesia). He also works on policy- related projects, such as the Greater Bay Area Project, Singapore SMEs’ Innovation Capability and Welfare Spending and Budget Sustainability Project.

1.Introduction 2. An Overview of Foreign Direct Investment inflows during the Pandemic. Appendix 1 3. Foreign Direct Investments in the Time of Covid-19: Evidence from ASEAN Countries 4. The Trade-Investment Nexus in ASEAN: Evidence from the Belt and Road Initiative 5 . Here to Stay in a Crowded Landscape: The Future of the BRI in ASEAN 6. Is Special Economic Zone a Guaranteed Growth Policy? A Closer Inspection into Indonesian Cities 7. Efficacy of the Make in India Initiative: An Empirical Evaluation of Greenfield FDI inflows 8. Concluding Remarks