Outward investment from Hong Kong is on the up, with 27 FDI projects recorded in the second quarter of 2013, up from 13 in the first quarter, according to data from crossborder investment monitor fDi Markets.

In the first half of 2012, Hong Kong-based companies invested in 37 projects worldwide, recording 19 in the first quarter and 18 in the second. The first half of 2013 sees this figure rise to 40 outward projects.

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Capital expenditure for outward FDI has been augmented thanks to the $40bn Inter-Oceanic Nicaragua Canal project, which will be built by a Hong Kong firm. In June, it was announced that Hong Kong Nicaragua Canal Development Investment had been granted a 50-year concession by Nicaragua’s Congress. On the back of this, Hong Kong’s mid-year outward FDI totals $41.74bn compared with $9.2bn recorded a year earlier.

Computer manufacturer Lenovo, garment producer Tal Global Alliances and communications firm Hutchison Whampoa also announced significant overseas investments.

In the second quarter of 2013, Asia-Pacific and Europe received the greatest number of Hong-Kong’s outgoing projects.