Foreign investment in Bahrain soared to $500 million (BD189m) last year, a UN report said.
Foreign Direct Investment (FDI) was up from $448m (BD169.3m) in 1999, revealed a UN Conference on Trade and Development's World Investment report, cited by the Gulf Daily News.
Investment outflows from Bahrain, on the other hand, fell from $163m (BD61.6m) to $131m (BD49.5m).
Among the factors influencing these figures were cross-border mergers and acquisitions, according to the report, which was released by the UN Information Center in Bahrain Wednesday.
Cross-border purchases by Bahrain-based companies fell sharply from $563m (BD212.8m) in 1999, to just $79m (BD29.8m) last year.
Cross-border sales rose from $36m (BD13.6m) in 1999 to $161m (BD60.8m) last year.
FDI flows worldwide reached record levels last year, said the report.
Worldwide FDI grew by 18 percent last year, reaching a record $1.3 trillion (BD491.4 billion), but the flows are expected to decline 40 percent this year to $760b (BD287.2bn) because of this year's projected dip as a result of a recent decline in cross-border mergers and acquisitions, which account for the bulk of FDI.
The global expansion of investment flows is driven by more than 60,000 transnational corporations, with over 800,000 affiliates abroad.
Developed countries remain the prime destination of FDI, accounting for more than three-quarters of global inflows, said the report – Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)
