UN body reports record Foreign Direct Investment to least developed countriesListen /
Foreign Direct Investment (FDI) to the world's least developed countries hit a record $26 billion last year, according to a report by the UN Conference on Trade and Development (UNCTAD).
This was mostly through "greenfield investment," which UNCTAD explains is new investment or the expansion of existing investment in recipient nations, as opposed to investment through mergers and acquisitions.
The majority of investments originated from developing economies led by India, which accounted for 20 per cent of all greenfield projects covering sectors ranging from the extractive industries to pharmaceuticals.
Among the top recipient countries for FDI were Cambodia, the Democratic Republic of the Congo, Liberia, Mauritania, Mozambique and Uganda.
Dianne Penn, United Nations.