Global FDI flows fell sharply in 2017: UNCTAD

Despite reforms foreign direct investment in Saudi at 14-year low as Qatar fares better

According to the report, outflows from India, the main source of FDI in South Asia, more than doubled to United States dollars 11 billion.

Foreign direct investments (FDI) into Morocco reached $2.7 billion in 2017, up 23% compared with a year ago, according to the United Nations Conference on Trade and Development (UNCTAD).

"Downward pressure on FDI and the slowdown in global value chains are a major concern for policymakers worldwide and especially in developing countries", said Mukhisa Kituyi, Secretary-General of UNCTAD.

Saudi reforms launched two years ago aim to boost FDI to $18.7 billion by 2020, in order to create jobs - unemployment among Saudi citizens is almost 13 percent - and help diversify the economy beyond oil exports.

FDI into Morocco's financial sector also expanded, as banking relations with China deepened, says the document, noting that strong diversified investment made in the country contrasted with declines in FDIs to the rest of North Africa wherein FDI flows were down 4 per cent to $13 billion.

After acquiring a 26 per cent stake in Vankorneft (Russian Federation) in 2016, it bought a 15 per cent stake in an offshore field in Namibia from Tullow Oil (founded in Ireland and headquartered in the United Kingdom) in 2017.

Other big-ticket FDI deals included a $1.4 billion infusion into the parent of mobile wallet Paytm by Japan's SoftBank and an equal amount injected into e-tailer Flipkart by Microsoft, eBay and China's Tencent.

Fleetwood Mac guitarist Danny Kirwan dies
His most recent work involved three solo albums which were given a belated CD release in February 2006, but only in Japan. No cause of death was given. 'Thank you, Danny Kirwan . "Danny was a huge force in our early years", Fleetwood wrote.

By the end of 2017, ONGC had 39 projects in 18 countries, producing 2,85,000 barrels of oil and oil-equivalent gas per day.

The investment downturn in 2017 also partly reflected a decline in the global average rate of return on foreign investment, which fell to 6.7 percent from 7 percent.

Developing-economy investors from China and South Africa, followed by Singapore, India and Hong Kong (China), are among the top 10 investors in Africa.

Global foreign direct investment (FDI) flows fell by 23 percent in 2017, down to $1.43 trillion from $1.87 trillion in 2016. The GVC slowdown shows a clear correlation with the FDI trend and confirms the impact of the FDI trend on global trade patterns.

The current government had initiated some reforms seeking to strengthen the business environment and improve governance in order to attract foreign investors and also talked up plans to diversify the economy under its Economic Recovery and Growth Plan (ERGP). "Investment in productive assets will be needed to achieve sustainable development in the poorest countries".

The report shows that FDI remains the largest external source of finance for developing economies.

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