In view of that, Singapore is among the countries in Southeast Asia region that
involve actively in the FDI outflow. This is due to its ability to achieve remarkable
economic growth especially during the 1970s until 1990s and resilience towards
economic turbulence during the 2000s. Even, Singapore also known as the Newly
Industrialized Economies (NIEs) and acknowledged by the World Bank (1992) one of
the eight Highly Performance Asian Economies (HPAEs)