FDI flows plunged globally by 35 per cent in 2020, to $1 trillion from $1.5 trillion the previous year, the report says. Lockdowns caused by the COVID-19 pandemic around the world slowed down existing investment projects, and the prospects of a recession led multinational enterprises to reassess new projects.
“These investment types are crucial for productive capacity and infrastructure development and thus for sustainable recovery prospects,” Acting UNCTAD Secretary-General Isabelle Durant said. FDI trends in 2020 varied significantly by region. In developing regions and transition economies they were relatively more affected by the impact of the pandemic on investment in global value chain-intensive and resource-based activities. Asymmetries in fiscal space for the roll-out of economic support measures also drove regional differences.
The pandemic further deteriorated FDI in structurally weak and vulnerable economies. Although inflows in least developed countries remained stable, greenfield announcements fell by half and international project finance deals by one third. FDI flows to small island developing states fell by 40 per cent, and those to landlocked developing countries by 31 per cent.
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