摘要：This paper examines outward foreign direct investment (OFDI) from Singapore, based on primary
data from corporate surveys and personal interviews and secondary data from official statistics and media
reports. My analysis is situated in the political-economic context of Singapore in which rapid outflows of
FDI and strong government initiatives have been occurring during the past 15 years. In understanding this
phenomenon of Singapore¡¯s ¡°global reach,¡± I first describe the geographical and sectoral distributions of
OFDI from Singapore. The data show that Singaporean firms tend to invest within Asia in both
manufacturing and service industries. I then analyze the internationalization motivations and strategies of
Singaporean firms and the problems encountered. Market access and customer-orientation are the most
important drivers of their internationalization. Prior experience in internationalization and business
connections are useful in handling problems associated with their transnational operations. Finally, the
paper discusses the critical role of public policies, state institutions, and government-linked companies in
shaping the directions and trajectories of OFDI from Singapore. The concluding section discusses some
important implications of my findings for business strategy and public policy.
关键词：Outward foreign direct investment, transnational corporations, Singapore, government
policies
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