# Professor Joseph Foudy discusses how Singapore welcoming foreign investments led to its prosperity

1 Faculty News June 22, 2016 ![Nikkei logo](/sites/default/files/styles/246w/public/assets/images/nikkei192x144.jpg?itok=R-JXNYmy)>

Excerpt from [Nikkei Asia](http://asia.nikkei.com/Politics-Economy/International-Relations/Asian-countries-make-gains-in-soft-power?page=1) -- "'They just welcomed all forms of investment at a high and a low level,' [Foudy](http://www.stern.nyu.edu/faculty/bio/joseph-foudy) said of the country. 'Basically it serves as a headquarters for multinationals, servicing much of Asia. It combines stability with a Western legal system and property rights. It has a challenge of rising inequality, but it also is a country that essentially has no capital gains tax or inheritance tax as well. So it's become sort of a magnet for the wealthy and the people trying to find safety and security.'"

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