ASIA remained the recipient of the most foreign direct investments (FDI) for the second time in a row last year, a United Nations agency said in a new report.
The World Investment Report 2014 -- released yesterday by the United Nations Conference on Trade and Development -- showed global FDI inflows hitting $1.452 trillion last year, up 9% from $1.330 trillion in 2012, which in turn was 21% less than 2011’s $1.700 trillion. Asia attracted the most money at 29.4% or $426 billion, followed by Latin America and the Caribbean at 20.1% ($292 billion), North America at 17.2% ($250 billion), and the European Union at 17% ($246 billion). Transition economies, Africa, and Oceania attracted the least FDI at 7.4%, 3.9%, and 0.2%, respectively.
Central bank data show the Philippines ended last year with $3.86-billion FDI net inflows, 20% more than 2012’s $3.215 billion and topping an official $2.1-billion forecast.
source: Businessworld
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