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INVESTMENT PROJECTS
Foreign Direct Investment For International Cooperation
Foreign direct investment (FDI) is an integral part of an open and effective
international economic system and a major catalyst to development. National policies and the international investment architecture matter for attracting FDI to a larger number of developing countries and for reaping the full benefits of FDI for development. The direct environmental impact of FDI is generally positive, at least where host-country environmental policies are adequate. There are, however, examples to the contrary, especially in particular industries and sectors. Most importantly, to reap the full environmental benefits of inward FDI, adequate local capacities are needed, as regards environmental practices and the broader technological capabilities of host-country enterprises.
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FDI flows into developed countries last year rose to $636 billion (from $481 billion in 1998), while FDI to developing countries climbed to $208 billion ($179 billion in 1998). Worldwide annual sales of the foreign affiliates of TNCs in 1999 reached $14 trillion (from $3 trillion in 1980), almost double the volume of global exports.