Singapore, London and Shanghai were the top cities for new FDI (foreign direct investment) projects in 2014 while Dublin had an 11th place in a ranking of 20 cities.
According to data compiled by fDi Markets, an FT data service, 390 companies announced or launched 409 greenfield projects in Singapore in 2014 totalling an estimated $11bn in capital expenditure. London had 334 projects new projects at $7bn, and Shanghai, 245 projects at $8bn. Hong Kong, the sixth-ranked city based on number of projects, received 162 projects at $5bn.
Dublin was ahead of Paris with 90 projects and an expectation of about 4,0000 to be created.
Greenfield usually suggests a new project from a new entrant to a market but here it also includes projects/ extensions by existing companies.
According to FDi markets, Dublin attracted 82 new companies, which hadn’t previously invested in the city during the year.
The FT says that a study published by fDi Markets last year looked at 130 cities worldwide using 70 data points related to economic potential, human capital, connectivity and business friendliness. Singapore was highest for economic potential and business friendliness, while number the two ranked city London topped the tables for human capital and connectivity. Hong Kong was third on the overall index and Shanghai eighth.
Dublin ranked best in the "Large Cities" category which categorises cities that are not in the "Major Cities" grouping.
Emerging market cities account for almost half of the top 20 list of destination cities for FDI last year with Beijing, Bangalore, Dubai, São Paulo, Kuala Lumpur and Mexico City joining Singapore, Shanghai and Hong Kong on the ranking.
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