Wednesday, March 05, 2008

China retains top FDI recipient with US$90 bln in 2007

OCO Global, the leading authority on foreign investment, on Tuesday released its global foreign direct investment (FDI) data for 2007 and revealed that China retained its position as the world’s top destination for multinational investment, followed by India and the U.S.

According to the data, China attracted US$90 billion in 1,171 projects last year, while India and the U.S. attracted US$52.5 billion and US$46.8 billion respectively.

In general, the volume of international cross-border foreign direct investment increased by 5.1% to US$947 billion in 2007. The capital investment associated with these projects is expected to create an estimated 2.9 million new jobs globally.

Asia-Pacific remained the favorite region for global FDI in 2007, attracting US$395 billion of investment, or 40% market share. Of the estimated 1.2 million jobs created in Asia-Pacific by FDI last year, China attracted 366,000, regaining the top position in the job stakes from India, where attracted 246,361 news jobs in 2007, 45% less than in 2006.

Meanwhile, Dr. Loewendahl Managing Director of OCO Global commented, that "the challenge for 2008 is to develop a highly competitive and flexible business environment to attract investment while providing a robust regulatory framework to provide security and long term economic benefits."

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