Australian businesses risk missing out on Southeast Asia’s looming economic boom, Foreign Minister Penny Wong said, expressing frustration at the struggle to spur more private investment in near neighbors.
Foreign direct investment in Southeast Asia was lower in 2022, when Wong’s Labor Party came to power, than in 2014, she told an Australian Financial Review conference on Tuesday.
Not a single Southeast Asian nation is in Australia’s top 20 destinations for foreign investment, government data show.
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