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| No.6 September, 2009 |
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Hong Kong attracts record investment |
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 Hong Kong has continued to attract record levels of foreign investment through 2008 despite tougher conditions around the world, according to the United Nations Conference on Trade and Development.
Latest statistics reveal Hong Kong is Asia's second largest recipient of foreign direct investment (FDI) and is ranked seventh worldwide, attracting US$63 billion in inward investment in 2008. |
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The amount represented a 15.9% year-on-year increase in spite of the global financial and economic crisis, which has caused FDI inflows to some developed economies to halve.
Hong Kong also continues to have the highest FDI stock in the region amounting to nearly US$835.8 billion.
These figures were included in the Conference's World Investment Report 2009 released on September 18, which said China was still ranked first in the Asia Pacific region for FDI inflows. China has moved up four places to become the world's third largest recipient, attracting US$108.3 billion last year, up 29.7% on 2007.
However, the performance of the region’s major economies in attracting FDI varied significantly. FDI inflows to Hong Kong, the Mainland, India and South Korea increased, but fell sharply in Singapore and Taiwan.
Globally, FDI inflows dropped 14.1% last year, from a historic high of US$1.98 trillion in 2007 to US$1.7 trillion.
Developing and transition economies accounted for 43% of global FDI last year. This change in the pattern of inflows is partly due to the large decline in FDI inflows to developed countries, which shrank by 29% compared with 2007.
The report also found the slide in FDI has continued this year. Preliminary data for 96 countries suggest inflows fell a further 44% in the first quarter of 2009 compared with the same period last year.
The conference forecast global FDI inflows falling to below US$1.2 trillion, with a slow recovery in 2010 and picking up in 2011.
Director-General of Investment Promotion Simon Galpin cautiously welcomed the results, saying Hong Kong must work doubly hard to encourage businesses to expand during these uncertain times.
"We believe overseas, Mainland and Taiwanese businesses will continue to set up and expand in Hong Kong because of our strategic location," he said.
"Hong Kong is the ideal two-way platform for overseas companies to do business in the region and for Mainland enterprises to develop their international business interests." |
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