India takes largest share of US investment in Asia-PacificJuly 29th, 2008 - 1:45 pm ICT by IANS
Singapore, July 29 (DPA) US investments in Asia grew 12 percent last year with the biggest jump coming in India, where acquisitions in the information sector propelled the increase, media reported Tuesday. Investments in the rising economic giant surged 48 percent to $13.6 billion in 2007 from a year earlier, according to US Commerce Department statistics published in Singapore’s Business Times.
Investments in China rose 21 percent to $28.2 billion as a result of reinvested earnings in manufacturing, the department said.
Those in Thailand soared 37 percent to $14.9 billion largely because of investments in petroleum refining, banking and mining while investments in Malaysia jumped 25 percent to $15.5 billion.
Cumulative investment in the Asia-Pacific region increased by $48.5 billion to $453.9 billion, the report said.
The increase was spread over several industries with the biggest jumps coming in holding companies and manufacturers of computers and electronic products, the department said.
However, the growth of US investments in Asia lagged behind the global average of 14 percent last year.
Europe experienced the fastest growth in regional terms, up 16 percent to $1.55 trillion dollars. Investment in the Middle East jumped 15 percent to $29.3 billion.
Tags: acquisitions, asia pacific region, business times, china, commerce department, cumulative investment, department statistics, dpa, earnings, economic giant, electronic products, global average, India, information sector, investments, middle east, petroleum refining, singapore, Thailand, trillion