Foreign investment in least developed nations hits record level in 2012 – UN report New York, June 27 - Foreign direct investment (FDI) inflows to the world’s poorest countries grew by 20 per cent last year to a record $26 billion, led by strong gains in Cambodia as well as five African countries, according to a new United Nations report. The World Investment Report 2013, produced by the Geneva-based UN Conference on Trade and Development (UNCTAD), adds that the majority of ‘greenfield’ investment in the least developed countries (LDCs) – new investment or expansion of existing investment in recipient nations, as opposed to investment through mergers and acquisitions – originated in other developing economies, led by India. Subtitled “Global Value Chains: Investment and Trade for Development”, the report notes that growth was led by strong gains in Cambodia (where inflows were up 73 per cent), the Democratic Republic of the Congo (96 per cent), Liberia (167 per cent), Mauritania (105 per cent), Mozambique (96 per cent), and Uganda (93 per cent). However, 20 LDCs reported declines in FDI, the report states, adding that the trend was particularly pronounced in Angola, Burundi, Mali, and the Solomon Islands. Secretary-General Ban Ki-moon commended the report, calling it a “source of reflection and inspiration” for meeting today’s development challenges. un.org/news
Posted on: Mon, 29 Jul 2013 19:25:35 +0000
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