ASEAN-5 Foreign Direct Investment (FDI) (2016–2024)

(Source) IMF International Financial Statistics, Central bank reports and online databases from Bank of Thailand, Bank Negara Malaysia, Bank Indonesia, Bangko Sentral ng Pilipinas, and State Bank of Vietnam.

This bar chart compares the cumulative net FDI received by five major ASEAN countries over the period 2016–2024.

Key Points:

• Indonesia and Vietnam lead the region: Each attracted around USD 130–140 billion, highlighting their dominance.

• Philippines and Malaysia fall in the middle tier, with about USD 50 billion and USD 30 billion, respectively.

• Thailand shows a net FDI outflow: The only country with negative cumulative FDI (approx. –USD 30 billion), indicating disinvestment or capital repatriation.

Implication:

Thailand stands out for the wrong reasons—it is the only ASEAN-5 country to experience a net loss of FDI, suggesting serious structural or policy challenges. Meanwhile, Vietnam and Indonesia have become the preferred destinations for global investors seeking alternative production hubs and access to large markets.