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Over 70% of Countries Are Missing Out on Foreign Investment Projects and Jobs Finds World Bank Group
Washington, D.C., 11 May 2009-A new report by the World Bank Group finds that over 70 percent of government investment-promotion intermediaries miss out on investment and job-creating opportunities by failing to provide accurate and timely information to potential investors.
Global Investment Promotion Benchmarking 2009 (GIPB 2009)shows how effectively government agencies are promoting their countries to foreign investors. The report examines the ability of 181 countries to influence foreign investors' site-selection process. It assesses the response of these agencies to two potential projects-a software developer and a beverage-manufacturing company seeking to expand operations in each country. According to the report, only 10 out of 181 countries followed up with potential investors to secure projects.
"If country information is hard to obtain, investors will simply go elsewhere," said Cecilia Sager, a manager for the World Bank Group's Investment Climate Advisory Services. She also noted that in the global slowdown, foreign direct investment offers prospects for growth and employment. Attracting investment, however, requires professional facilitation which, unfortunately, many countries do not provide.
Press Material
Global Investment Promotion Benchmarking 2009 (GIPB 2009)
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