20 0 2年 ,经过近 1 0年准备的东盟自由贸易区正式启动。东盟自由贸易区的目标是实现贸易自由化和吸引更多的外国直接投资 ,使东盟成为一个统一的、自由的、透明的“单一投资区”。在 1 998年的《东盟投资区框架协议》的安排下 ,东盟各国通过逐步取消对外国直接投资的各种限制 ,减少外资的市场开发成本 ,从而提高了区域的整体竞争力和对外资的吸引力。本文从理论和实证两方面探讨了东盟自由贸易区的投资效果 The ASEAN Free Trade Area, which has been prepared for nearly 10 years, was officially launched in 2022. The goal of the ASEAN Free Trade Area is to achieve trade liberalization and attract more foreign direct investment and make ASEAN a unified, free and transparent “single investment zone.” Under the framework agreement of the ASEAN Investment Area Framework Agreement of 1998, all ASEAN countries reduced their foreign exchange market development costs by gradually eliminating various restrictions on foreign direct investment, thereby enhancing the overall competitiveness of the region and attracting foreign investment force. This article explores the investment effect of ASEAN Free Trade Area from both theoretical and empirical aspects