Asia and the Pacific witnessed US$ 302 billion worth of Greenfield projects announced in the January to September 2023 period, a staggering 35 per cent increase compared with the same period in 2022, when US$ 224 billion had been recorded. 2023 appears to be on track to match – and exceed – the project announcements in terms of capital investment levels of 2022. As of September 2023, outward Greenfield announcements in Asia and the Pacific have already surpassed the levels recorded in the first three quarters of 2022 by 32 per cent, increasing from US$ 231 billion in 2022 to US$ 305 billion in 2023. After 2017 and 2022, outward Greenfield FDI announcements are surpassing inward flows for the third time in the past decade.