The ASEAN Investment Report 2003 : Regional Production Networks and Investment Policy (AIR 2003), is a historical record of the region's performance in attracting foreign direct investment (FDI) flows from 2002 to 2003. In this regard, the AIR 2003 captures the significant rise in FDI in 2003 following several years of consecutive decline as a result of the 1997 - 1998 financial crisis and the global downturn. Although FDI flows have yet to return to the pre-crisis levels, 2003 marks the turning point for ASEAN and we are optimistic on the region's ability to continue to be credible and viable destination for the global investing community in the coming years.