The ASEAN region has been the largest recipient of FDI, relative to gross domestic product (GDP), in Asia Pacific. Between 1952 and 2012, Singapore accounts for more than half of total FDI to the whole region (52 percent). Thailand ranks the second with a 13 percent share, followed by Indonesia with 11 percent, Malaysia with 10 percent, Vietnam with 8 percent and the Philippines with 3 percent. China’s labor advantage has been gradually offset by higher wages, which opens doors to ASEAN countries to take its position to move up the value chain.
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