Africa: Continent Needs More FDI to Reduce Poverty Nov 16, 2009
Addis Ababa AFRICA needs continuous flows of foreign direct investment to stimulate economic growth and reduce poverty levels on the continent, economists say ... More than 300 policy-makers and economists met here to discuss the impact of Foreign Direct investment (FDI) on poverty reduction in Africa. (allAfrica.com)
Positive FDI data drive Chinese shares 2.7% higher Nov 16, 2009
74 percent Monday on the newly released growing monthly foreign direct investment (FDI) figures, showing investors' heartened confidence on the revival of the world's fastest-growing economy ... The amount of foreign direct investment China received climbed for the third consecutive month in October, up 5. (Xinhuanet, China)
China's FDI up for third consecutive month in October Nov 16, 2009
BEIJING, Nov.16 (Xinhua) -- China's foreign direct investment (FDI) saw a third consecutive monthly increase in October, up 5. 7 percent year on year, the Ministry of Commerce said Monday. (Xinhuanet, China)
First tranche of AI equity infusion likely by Dec: Patel Nov 15, 2009
On the issue of relaxing the foreign direct investment (FDI) norms in the aviation sector, Patel said a decision would be taken after assessing what the industry needed. "On the FDI issue, the Government will take its decision based on the needs of the sector," he said. (India Times, India -- Intl Business)
Multinational Corporations And The Developing World Nov 15, 2009
One of the economic hope and aspirations to get out poverty and under development which had plagued the developing world from the time immemorial is to attract foreign direct investments (FDI) into their various economies ... The ten biggest recipient of foreign direct investment receive nearly 95% of the total, while all the African countries put together receive less than 4 ... Governments in the developing countries are always on the look-out to attract Foreign Direct Investment (FDI) and are... (Ghana Web, Ghana)
Sierra Leone: CDC Group Launches Fund for Private Investors Nov 15, 2009
Its inadequate infrastructure and a shortage of managerial skills has kept foreign direct investment flows low. "CDC's commitment to private sector investment will encourage entrepreneurial talent to establish and grow businesses, which in turn will increase employment and reduce poverty," said Rod Evison, managing director for Africa. (allAfrica.com)
Getting it together at last Nov 15, 2009
As the whole world seemed to be heading into a long winter last year, foreign direct investment (FDI) in Brazil was 30% up on the year before even as FDI inflows into the rest of the world fell by 14. Much of the country s current success was due to the good sense of its recent governments, in particular those of Fernando Henrique Cardoso from 1995 to 2003, which created a stable, predictable macroeconomic environment in which businesses could flourish (though even now the government continues... (The Economist)
Zimbabwe: No to Expropriation [editorial] Nov 14, 2009
Foreign direct investment and related foreign currency inflows to Zimbabwe are necessary for the revival of the frail economy, which had taken a recovery path but is still undoubtedly limping. Not surprisingly, therefore, disclosures of the unreceptive programme has been met with awe and consternation by Zimbabweans who fear the latest move could further damage the economy and devastate key economic sectors like mining, which had shown huge potential to salvage the country from the abyss. (allAfrica.com)
CEDECOM to evolve measures to improve investments Nov 14, 2009
Mrs Benyiwa-Doe said CEDECOM was making efforts to mobilize both local and foreign direct investment, for the accelerated growth and development of the nation as a whole. She therefore urged the participants to further explore available options to address the high poverty situation in the region. (Ghana Web, Ghana)
Tailored Policies for Effective FDI in Africa Nov 13, 2009
"Foreign direct investment can contribute to the development of countries and reduce poverty in Africa," they say, advising, however, that "policies to attract these foreign investments should be tailored on a regional basis and account for economic convergence within regions and differences between regions in order to be effective." They argue that in some regions, the channelling of FDI into investments that benefit the poor was missing. Contacts. (allAfrica.com)
AEC Participants Discuss Impact of Foreign Direct Investments on Poverty Reduction in Africa Nov 13, 2009
As part of the African Economic Conference, some 150 participants met on Wednesday, November 11, 2009, at the UN Conference center in Addis-Ababa, where they listened to a presentation on: "Impact of Foreign Direct investment (FDI) on Poverty Reduction in Africa: Are there regional differences?" ... One main source of this capital investment is Foreign Direct Investment (FDI), since in most African countries; the private sector is seen as being a principal driver of growth ... The current... (allAfrica.com)
Food majors triple investment in ending hunger Nov 13, 2009
FAO said foreign direct investment (FDI) in agriculture tripled to more than $3 billion in 2007 from $1 billion in 2000 but that still represented less than one percent of total world FDI inflows. The figure also pales when compared with $44 billion a year of official development assistance that FAO urges world leaders to agree to spend to help poor nations feed themselves. (AlertNet)
Congo-Kinshasa: Govt Creates Safety Net by Diversifying Economy [analysis] Nov 12, 2009
It is rich in natural and human resources and in need of foreign direct investment to re-build an economy stagnated by prolonged civil war ... "The DRC is still attracting foreign direct investment in many sectors, and particularly in mining," he assures ... Minerals account for the vast majority of the exports and represent the single largest source of foreign direct investment. (allAfrica.com)
* Business Briefs Nov 12, 2009
Taiwanese companies should take immediate action to tap into the many business opportunities that will open up in the next year ahead of the 2012 London Olympic Games, the head of a British foreign direct investment agency said in Taipei on Tuesday. There is a window of opportunity there and that window is closing. (Taipei Times, Taiwan -- World)
African Economic Conference - Knowledge-Sharing Exercise Nov 12, 2009
This year's conference will be characterized by presentations by experts in key fields, he said, adding that 27 technical presentations on the capital flow crisis, poverty & inequality, foreign direct investment, fiscal and monetary policies, and the competitiveness of African countries in areas in which those countries have competitive advantages will also be made. High-level policy-makers, development practitioners and researchers will participate in breakout sessions to discuss and exchange... (allAfrica.com)
Public Information Notice: IMF Executive Board Concludes the 2009 Article IV Consultation with Uruguay Nov 12, 2009
Improved fundamentals included a more robust and well-regulated banking system, substantial international reserves, a more flexible exchange rate regime, external current account deficits more than financed by Foreign Direct Investment (FDI), as well as reduced debt vulnerabilities ... Foreign direct investment. (IMF News)
Thaksin may be digging his own grave Nov 11, 2009
It is one thing for a foreign engineer to assist with construction projects, or a foreign banker to help obtain foreign direct investment. But Thaksin, as a former PM, is privy to strategic knowledge and secrets that could very well undermine Thai security and economic interests. (Sydney Morning Herald -- Opinion)
PM: Malaysia aiming for average 6% GDP growth to 2020 Nov 10, 2009
They said a major policy reform was needed to get private sector investments in, especially today when the number of competing nations for investment money has grown from the days when Malaysia used to be a huge recipient of foreign direct investment. RAM Holdings Group chief economist Yeah Kim Leng said Malaysia had the capacity to grow at between 5. (The Star Online, Malaysia -- Business)
East Africa: Investments Up U.S.$1.7 Billion Nov 9, 2009
Kampala Foreign direct investment (FDI) in the East African Community (EAC) member states has grown significantly from $629 million registered in 2002 to $1 ... The growth in foreign direct investment has been recognized as one of the achievements of the community that was revived ten years ago and is planning to celebrate its 10th anniversary this year. (allAfrica.com)
Stimulus withdrawal in 2010: PM Nov 9, 2009
Stimulus to be wound down in 2010: PM - India Business - Biz - The Times of India. Stimulus to be wound down in 2010: PM. (India Times, India)
India PM vows financial reform Nov 9, 2009
He said the $121bn of foreign direct investment in India over the past eight years was "small", given the size of Asia's third-largest economy. Paolo Martelli, the Asia director of the Washington-based International Finance Corporation, said Mr Singh's measured approach showed India was beginning to opt for practical steps over ideology. (CNN -- International)
PM pushes for reforms, says will exit stimulus next year Nov 8, 2009
The worst is behind us though the path to global recovery will be long and uncertain," he said. The country had introduced fiscal stimulus by way of excise duty cuts last year to insulate the economy from the global crisis. "Our medium term objective is to achieve a growth rate of 9 % per annum," Singh said, adding that the fact that India's domestic savings rate is now as high as 35 % of GDP, the target is eminently feasible. He said the country had plans for a large increase in investment in... (India Times, India -- Intl Business)
Obama envoy wanted by Lucknow police Nov 8, 2009
In its foreign direct investment application, cleared by the Cabinet Committee on Economic Affairs (CCEA) on January 18, 2007, IMI proposed to invest Rs 3,000 crore in the telecom infrastructure sector in India. As a result, the company came up with its offices in different states and floated the concept of owning mobile phone network towers and letting them out to telecom operators on rent. (India Times, India)
Indian investments grow in London Nov 8, 2009
Results for the financial year confirm that 14 Indian companies have either set up or expanded their operations in London, according to new data from Think London, the foreign direct investment agency for the British capital. "Encouragingly the outlook for the full year suggests that the growth seen in 2008-09 will be sustained through this year," the agency said. (India Times)
A strategy to boost investment in salt launched Nov 6, 2009
The strategy seeks to attract domestic and foreign direct investments into the Tekperbiawe area of Ada and its environs to expand production and benefit from the economies of scale ... As part of the strategy, a model has been proposed to help end litigation in the Ada area to facilitate foreign direct investment. (Ghana Web, Ghana)
Zimbabwe: Tsvangirai Ends Boycott of Unity Govt Nov 6, 2009
"In this framework, they must do the best they can to maintain political stability to allow foreign direct investment and the relaunch of economic activity in the country.". President Guebuza challenged the parties to pledge full commitment to working together. (allAfrica.com)
Wal-Mart chief renews effort for FDI in multi-brand retail Nov 6, 2009
The $404-billion Wal-Mart, which has a joint venture with the Bharti group that runs the countrys largest telco for cash-and-carry wholesale trade and a franchise agreement for front-end retail, has been lobbying hard with the government for permission to allow foreign direct investment (FDI) in multi-brand retail. Rob Walton, the eldest son of Wal-Mart founder Sam Walton, who took over as the chairman of the board of directors at Wal-Mart in 1992 following his fathers death, is credited... (India Times)
* The PRCs malign currency policy Nov 5, 2009
The undervalued yuan has also made China a major recipient of foreign direct investment, even leading the world in 2002 X a staggering achievement for a developing country. The scale of recent US trade deficits was always unsustainable, and the dollar has therefore fallen against the yen, the euro, the Brazilian real and the Australian and Canadian dollars. (Taipei Times, Taiwan -- World Business)
Public Information Notice: IMF Executive Board Concludes 2009 Article IV Consultation with the Solomon Islands Nov 5, 2009
Although recovery of the global economy and new foreign direct investment, especially in mining and telecommunication sectors, could provide a lift to the economy in 2010, declining logging and ancillary activity will likely act as a drag to income and employment, fiscal revenue, and export receipts over the medium term. In the event, both the fiscal position and current account could come under more strain, with the possibility of large and unsustainable macroeconomic imbalances. (IMF News)
'Exports to revive in Jan-Mar qtr' Nov 5, 2009
On foreign direct investment (FDI) front, however, the country has seen a steady flow ... On foreign direct investment (FDI) front, however, the country has seen a steady flow. (India Times)
Chinas ICBC may get nod for Msian ops soon Nov 5, 2009
In April, Prime Minister Datuk Seri Najib Tun Razak said the Government would issue up to nine new bank and insurance licences between this year and 2011 as part of efforts to liberalise the sector and encourage foreign direct investment. The presence of ICBC will support the two-way trade between both countries, theres a lot of money to be made in trade financing, said Pong Teng Siew, head of research at Jupiter Securities. (The Star Online, Malaysia -- Business)
* Why be a mere spoke of a future China hub? Nov 5, 2009
Unlike Japanese investments overseas, Chinas outward foreign direct investment aims to exploit natural resources and obtain strategic supplies with little or no possibility of technology transfer to host countries. Moreover, China remains an emerging market economy at an earlier stage of development and industrialization relative to Japan. (Taipei Times, Taiwan -- World Business)
British SMEs find Malaysian market attractive Nov 4, 2009
He said foreign direct investment into Malaysia would continue to grow in tandem with liberalisation of the services sector. In 2008, total exports of goods and services from Britain to Malaysia was 1. (The Star Online, Malaysia -- Business)
Maldives to power capital by wind mill Nov 3, 2009
According to a press statement put by the presidential office on its official website, Maldivian President Mohamed Nasheed on Monday unveiled a 200-million-U.S. dollar foreign direct investment project which will produce clean electricity for North Male' atoll, including the capital Male, the international airport island of Hulhule' and a number of luxury tourist resorts. The project will see the construction of the latest generation wind turbines, which will be connected to the electricity grid... (Xinhuanet, China)
Africa: Most of Continent Provides 'Prosperous Emerging Markets' - CEO [interview] Nov 3, 2009
Foreign Direct Investment (FDI) and natural resources have slowed down substantially ... A big reason why countries grow is foreign direct investment. (allAfrica.com)
A learn how to fish budget? Nov 3, 2009
One key area of the budget is the development of the services sector from tourism, information and communications technology, Islamic finance and banking, halal industry, developing green technologies (my favourite) to foreign direct investment, including making it easier to hire foreign talents and their families to stay and work in Malaysia. Najib also referred specifically to the Middle East, China and India markets a couple of times, focusing on tapping these emerging markets not only for... (The Star Online, Malaysia -- Business)
Transcript of a Conference Call on the Completion of the First Review of Iceland’s Stand-By Arrangement with Mark Flanagan, Mission Chief for Iceland, and Franek Rozwadowski, Resident Representative in Iceland Nov 3, 2009
Thirdly, we do expect some foreign direct investment next year. Talks are underway concerning beginning work on a new aluminum smelter. (IMF News)
Private investments vital for income growth Nov 2, 2009
The first is foreign direct investment (FDI), which is long term in nature and is embedded in the social capital of the country once it is incurred. The other is portfolio flows or short term capital which comes in and goes out to take advantages of the movements in the stock market, interest rates (especially overnight rates) and exchange rates. (The Star Online, Malaysia -- Business)
Zimbabwe: IMF Funds Tug-of-War Enters Legal Arena Oct 31, 2009
Apart from the global crisis, Zimbabwe currently with a -9% current account and an invalidated external debt of US$5,7 billion requires foreign direct investment and an estimated US$10 billion to stimulate economic recovery. The state controlled daily, the Herald, last Friday "revealed" that the central bank boss should be in charge of the funds. (allAfrica.com)
National Automotive Policy still stuck in neutral Oct 31, 2009
Considering the competition from Thailand, which has firmly established itself as the Detroit of Asia, the lifting of the freeze on manufacturing licences is a good move that puts Malaysia on the right path to attracting foreign direct investments by global carmakers wishing to expand their operations in the region, said CIMB Research in a note ... Fiscal incentives and flexibility in ownership are just a few factors to attract FDI (foreign direct investment). (The Star Online, Malaysia -- Business)
Republic of Kazakhstan -- Concluding Statement of the October 2009 IMF Mission Oct 30, 2009
The external position is expected to remain supported by continued foreign direct investment, particularly in the energy sector, the rebound in oil prices, and the new sources of bilateral financing. Notwithstanding these ample sources of foreign exchange, the knock-on effects from the previous decline in oil prices and dampened external demand will result in a current account deficit this year, before moving to a modest surplus next year. (IMF News)
Nigeria: China Invests U.S.$6 Billion in Country Oct 30, 2009
Abuja National President, Association of Nigerian Traders (NANTS), Mr. Ken Ukaoha, yesterday in Abuja, said Foreign Direct Investment (FDI) from China to Nigeria has doubled from $3 billion in 2003, to $6billion, with the share in oil and gas sector taking the lion share of 75 per cent.. He acknowledged that bilateral trade relations between Nigeria and China is underscored more by the economic relations between both countries. (allAfrica.com)
Peshawar blast addsto investor woes Oct 30, 2009
Foreign direct investment (FDI) tumbled by more than 58% to US$463 million in the three months through September, the first quarter of the present fiscal year, compared with $1. 12 billion during the same period last year. (Asia Times Online)
Press Release: IMF Announces Staff-Level Agreement with Moldova for Extended Credit Facility/Stand-by Arrangement of About US$ 600 Million Oct 29, 2009
Weak demand in trading partners has led to a severe downturn in exports and remittances, while foreign direct investment has fallen sharply. In the first half of 2009, GDP contracted by 8 percent, domestic demand declined even faster, and imports fell by 36 percent. (IMF News)
Uganda: In Defence of Uganda's Competitiveness Oct 29, 2009
Despite the daunting statistics, Uganda has continued to perform better in key areas of foreign direct investment and remittance flows ... The country also continues to enjoy peace and strong democratic structures, facets that have significantly attracted foreign direct investments over the years ... Despite the ghastly statistics, available evidence from the Uganda Bureau of Statistics indicates that Uganda attracted $787m in foreign direct investment in 2008. (allAfrica.com)
Daily chart: Overtaking Oct 29, 2009
Foreign direct investment ... Emerging economies get more foreign direct investment than developed ones ... FOREIGN direct investment inflows will barely reach $1 trillion in 2009, a decline of more than half since 2007, predicts the Economist Intelligence Unit, a sister company to The Economist. (The Economist)
Rwanda: Changing Our Mindset for a Strong Savings Culture [editorial] Oct 29, 2009
This will also help in fostering local investments rather than waiting for Foreign Direct Investment (FDI) that depends on savings made by people elsewhere. Be the first to. (allAfrica.com)
Future Group to hive off Big Bazaar Oct 28, 2009
The fresh plan to spin off the value retail business comes after the company dropped a three-way restructuring plan based on the revised foreign direct investment (FDI) guidelines announced in February that allowed FDI in multi-brand retail through Indian-owned holding companies. The government, however, seems not in favour of allowing FDI in multi-brand retail and has hinted that the guidelines will be revised. (India Times)
* ASEAN must integrate to be a powerhouse Oct 28, 2009
Also, ASEAN as a combined economy would rank among the worlds top 10 in terms of foreign direct investment inflows. Fears of China taking every foreign direct investment (FDI) dollar from ASEAN have not been matched by reality. (Taipei Times, Taiwan -- World)
Why South American economies are rebounding first Oct 28, 2009
5 percent in the second trimester of 2009, and a decline in foreign direct investment as well as remittances is complicating the poverty reversals for the region. Brazil's middle class growing, and better off. (Christian Science Monitor -- World)
Certain exchange control measures relaxed Oct 28, 2009
Treasury director-general Lesetja Kganyago reported in the medium-term budget policy statement that South Africa "continues to welcome foreign direct investment and encourages local firms that wish to diversify offshore from a domestic base". Key proposals in modernising the investment framework will be announced in next February's budget. (Business Report, South Africa)
FACTBOX-U.S.-China interdependence transcends trade Oct 28, 2009
FOREIGN DIRECT INVESTMENT. As recently as the early 1990s, foreign direct investment accounted for less than 5 percent of total investment in China. (AlertNet)
East Africa: More Hunger Looms Over Burundi and DRC - Report Oct 27, 2009
They are most vulnerable in trade, foreign direct investment, aid and remittances. Poor countries also had high levels of gender inequality. (allAfrica.com)
China Needs Unexpected Yuan Jump to Limit Inflows of `Hot Money,' UBS Says Oct 27, 2009
27 trillion of this year, the trade surplus, foreign direct investment, and inflows of speculative capital, or so-called hot money, adding to the risk of bubbles in stocks and property. The nations foreign-exchange reserves rose $141 billion in the third quarter to a record $2. (Bloomberg -- UK)
Govt plans to say 'no' to FDI in multi-brand retail Oct 27, 2009
NEW DELHI: The government plans to expressly clarify that foreign direct investment (FDI) in multi-brand retail is no-go territory, dashing the hopes of Indian retailers expecting that the new rules announced earlier this year would allow them to bring in overseas partners and capital. The commerce and industry ministry wants to ensure that the liberalised FDI policy does not lead to the unintended opening up of multi-product retail, a sector closed to foreign investment now, an official privy... (India Times)
FDI rider: Reins in Indian hand must Oct 26, 2009
The attempt to plug the loophole in the foreign direct investment (FDI) rule follows widespread criticism that the new rules will allow foreign investment in excess of the allowed limit and effectively transfer ownership and control to foreigners even in sectors restricted to them. The Foreign Investment Promotion Board (FIPB), the apex body that clears FDI into the country, is putting this new rider to ensure that the spirit of the new liberalised FDI norms is not defeated through undeclared... (India Times)
Brazil's Bovespa Posts First Weekly Loss in Month; Real Declines for Week Oct 24, 2009
Foreign direct investment in Latin Americas biggest economy fell to $1. 8 billion in September from $1. (Bloomberg -- Latin America)
Overseas factor boosts banking stocks Oct 22, 2009
All this would be a big magnet for foreign direct investment, money that could have found its way to Malaysia. For Malaysia, the rise of such countries would have a telling consequence on us if we are unable to punch through our own economic mid-life crisis. (The Star Online, Malaysia -- Business)
Textile Inc gets set for foreign play Oct 22, 2009
Targetting foreign direct investment (FDI) worth $ 6 billion for the domestic textile industry by 2015, the idea is to tap foreign capital towards establishing green field units in textiles machinery, fabric and garment manufacturing and attracting investments in the field of technical textiles, an official release stated. The trade talks which begin early next week will see the Indian contingent hold talks with leading fabric manufacturers based across Europe. (India Times)
Remittances Hold Immense Untapped Potential for the Poor Oct 22, 2009
Globally remittances top $300 billion per year, outstripping foreign direct investment and development assistance combined. But while transfer costs have declined significantly in Latin America and in Asia, sending money home to Africa is still expensive. (allAfrica.com)
Zeti: Intervention in ringgit market unnecessary Oct 21, 2009
But this needs to improve further, she said, adding that the Governments role was to provide an enabling environment for both domestic and foreign direct investment activities. Earlier in her keynote address, Zeti said emerging economies, which were expected to lead the global economic recovery, needed to achieve a greater balance between external-oriented development strategies and the strengthening of domestic demand. (The Star Online, Malaysia -- Business)
Experts see "hot money" dangers in China's economic outlook Oct 21, 2009
Analysts normally calculate hot money by deducting foreign direct investment and a trade surplus from the country's foreign exchange reserve increase. "The shrinking trade surplus and expanding forex reserves in the third quarter this year indicate hot money influx is rising again," said Sun Mingchun, chief China economist of Nomura Securities. (Xinhuanet, China)
Brazil Real to Stay Strong on `Desperate' Market Tax, Vieira da Cunha Says Oct 20, 2009
With todays financial engineering, its not very difficult to disguise pure financial flows as trade flows or even foreign direct investment ... There are very good prospects for growth in Brazil, it is going to be a major destination for foreign direct investment, Chamie said. (Bloomberg -- Latin America)
Analysis: Ghana's investigation of deals may give foreign investors a fright Oct 20, 2009
The country, which has seen foreign direct investment surge in recent years to near $1bn a year, according to the World Bank, also aims to start producing oil from its huge offshore reserves in 2010 in the hope of filling government coffers and reducing unemployment that stands near 20 percent. Current oil production is trickling out at 6 000 barrels a day - a fraction of the output of regional heavyweights such as Nigeria and Angola, which pump out roughly 2 million barrels a day. (Business Report, South Africa)
Zambia appreciates China's investment Oct 20, 2009
He said Chambishi Copper Smelter is strategically located in the heart of the Copperbelt and is in close proximity to major concentrators at the large scale mines in Zambia, adding that his government is evidently succeeding in attracting foreign direct investment resulting in the creation of jobs for the people in the country ... He said this is proof of the friendliness and good understanding, adding that is the best way in which foreign direct investment should take root and bear fruit in the... (Xinhuanet, China)
