FDI can boost poorest economies, says UNCTAD

The United Nations Conference on Trade and Development (UNCTAD) on Friday reiterated that Foreign Direct Investment(FDI) could be an important source of external development financing for poorest economies.

UNCTAD’s Global Investment Trends Monitor in a statement in Abuja, said investment in smaller countries had increased significantly through FDI.
It said that FDI in terms of stock, tripled in Least Developed Countries (LDCs) and Small Island Developing States (SIDS), and quadrupled in landlocked developing countries (LLDCs), over the past decade.

“With concerted effort by the international community, a quadrupling of FDI stock in these economies by 2030 from today’s level is achievable.
“It will also be consistent with past and recent growth in FDI inflows to these economies,’’ the statement said.

According to the statement, an in-depth analysis of global, regional and country level trends will feature in the forthcoming World Investment Report 2015, to be published later in June.

(NAN)