对最不发达国家的外国直接投资（英）

UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENTINVESTMENT TRENDS AND POLICIES SINCE LDC IV AND THE WAY FORWARDFOREIGN DIRECT INVESTMENT IN LDCs iiForeign Direct Investment in LDCs Investment trends and policies since LDC IV and the way forward © 2022, United Nations Conference on Trade and DevelopmentThe designations employed and the presentation of material on any map in this work do not imply the expression of any opinion whatsoever on the part of the United Nations concerning the legal status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries.Mention of any firm or licensed process does not imply the endorsement of the United Nations.This publication has not been formally edited.UNCTAD/DIAE/IA/2022/1 iiiContextThe Programme of Action for the Least Developed Countries for the Decade 2011–2020, also known as the Istanbul Programme of Action (IPoA), was adopted at the Fourth United Nations Conference on the Least Developed Countries (LDC IV) in 2011. It emphasized the role of foreign direct investment (FDI) as a channel to mobilize financial resources for productive capacities and human and social development in LDCs. LDCs committed to promoting private sector development and improving investment conditions; development partners committed to supporting them in this endeavor (United Nations, 2011). Despite significant policy reform efforts aimed at improving the investment climate, FDI inflows to LDCs as a group increased only marginally during the last decade. The pandemic has further undermined the attainment of the goals of the IPoA, as well as the sustainable development goals (SDGs). Nonetheless, FDI remains an important source of external finance for LDCs, crucial for their sustainable development and eventual graduation. This report analyzes FDI as well as investment policy reform trends in LDCs since the LDC IV. Section A provides a brief overview of FDI trends, while section B summarizes national and international investment policy trends. Section C provides recommendations to revitalize investment flows to the countries that need them the most.The discussion in this report brings together in a concise form the extensive analysis of investment and investment policy trends in LDCs contained in annual editions of UNCTAD’s flagship World Investment Report (WIR). The WIR contains dedicated sections and datasets for LDCs, as well as specific sections on trends in SDG-relevant investment projects in the poorest countries included at the request of the UN General Assembly. The policy guidance in this report synthesizes the recommendations relevant for LDCs and their development partners contained in a decade of WIRs and other relevant publications of UNCTAD’s Investment and Enterprise Division, including the Investment Policy Reviews.CONTEXT ivForeign Direct Investment in LDCs Investment trends and policies since LDC IV and the way forward vTa ble of ContentsTABLE OF CONTENTSCONTEXT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .iiiA . FDI TRENDS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1B . POLICY TRENDS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5C . ASSESSMENT AND RECOMMENDATIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7LIST OF FIGURESFigure 1 . FDI inflows to the LDCs and their share in world inflows and developing-country inflows, 2011-2021 . . . . . . . . . . . . . . . . . . . . . . . . .1Figure 2 . LDCs: FDI inflows, ODA and remittances, 2011–2020 . . . . . . . . . . . . . . .2Figure 3 . Investment policy measures by LDCs and other developing countries . . .5Figure 4 . Number of IIAs concluded by LDCs, 1980–2021 . . . . . . . . . . . . . . . . . . .6LIST OF TABLESTable 1 . Top 5 recipients among LDCs in 2011-2013 and 2018-2020 . . . . . . . . . .2Table 2 . LDCs: investment in productive-capacity, 2011-2012 and 2019–2021 . . .4Table 3 . LDC Priority Investment Measures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8 viForeign Direct Investment in LDCs Investment trends and policies since LDC IV and the way forward 1Overall trendsFDI inflows to LDCs as a group have displayed only modest growth since LDC IV (figure 1). From $20 billion in 2011, they increased by 3 per cent annually to an estimated $28 billion in 2021. Their share in global FDI remains below 2 per cent and their share in developing country inflows below 4 per cent. In several LDCs, FDI inflows actually declined over the period. Furthermore, LDCs have not fully benefited from the strong recovery in FDI flows observed globally in 2021. UNCTAD’s latest estimates1 indicate that FDI flows to LDCs increased by