evidence: Foreign direct investment (FDI) flows to developing countries fell by 9% to $841 billion in 2023, according to UNCTAD’s latest Global Investment Trends Monitor, published on 17 January. [...] Similarly, India saw a 47% drop in FDI inflows but remained among the top five global destinations for greenfield projects. FDI Flows to members of the Association of Southeast Asian Nations (ASEAN), normally an engine of FDI growth, declined by 16%. Yet the group remained attractive for manufacturing investments with a remarkable 37% increase in greenfield project announcements in nations like Viet Nam, Thailand, Indonesia, Malaysia, the Philippines and Cambodia.