There was a time, not very long ago, when most nations were chasing foreign direct investments (FDIs) and throwing open their doors to investors. But national security concerns and supply chain disruptions have changed the picture dramatically, and many countries no longer automatically welcome foreign investors without first considering the implications for security and economic resilience.

These considerations are pertinent for Singapore, too, and our firms and investors will have to adapt to the new regulatory environment when they consider venturing abroad.