联合国贸易发展委员会-2025年世界投资报告（概述）（英）

OVERVIEW WorldInvestmentReport International investmentin the digital economy This work is available through open access, by complying with the Creative Commonslicence created for intergovernmental organizations, at http://creativecommons.org/licenses/by/3.0/igo/. The designations employed and the presentation of material on any map in this work do notimply the expression of any opinion whatsoever on the part of the United Nations concerningthe legal status of any country, territory, city or area or of its authorities, or concerning thedelimitation of its frontiers or boundaries. Mention of any firm or licensed process does not imply the endorsement of the UnitedNations. Photocopies and reproductions of excerpts are allowed with proper credits. This publication has been edited externally. World Investment Report 2025International investment in the digital economyOverviewWorld Investment Report 2025International investment in the digital economyOverview Contents Preface...............................................................................................ivForeword..............................................................................................v Page 7Investment policytrends Page 1International investmenttrends Page 15International investmentin the digital economy Page 11Sustainable financetrends Annex table - FDI flows.................................................................... 24 Preface At a time when the world should be deepening cooperation and expanding opportunity, weare seeing the opposite. Barriers are rising. Globalization is retreating. And the consequencesfor sustainable development are profound. TheWorld Investment Report 2025 delivers a sobering message: global foreign directinvestment fell by 11 per cent in 2024, to $1.5 trillion. Infrastructure investment is slowing.Industrial investment is under strain. And developing countries – those most in need – arebeing left behind. Rising trade tensions, policy uncertainty and geopolitical divisions risk making the investmentenvironment even worse. One bright spot is the digital economy, but the growth in this sector remains highly uneven.Investment in digital infrastructure is essential to closing the digital divide. Digital connectivityis a powerful driver of progress – if we ensure it reaches everyone. This year’s report explores how international investment can help bridge that divide. It offerspractical guidance to help governments attract and direct capital toward inclusive growth –advancing the Global Digital Compact and the Sustainable Development Goals. Now more than ever, we need to work together to chart a course towards a more resilientand sustainable world. TheWorld Investment Report 2025offers ideas and insights to helpdo just that. Foreword Investment is more than just capital flows and project pipelines. It is a signal of where weare placing our bets as a society: on what we value, where we see potential and who webelieve should be part of the future. As such, investment trends do more than track economicperformance – they offer a mirror to our priorities, our systems and the choices we makecollectively. TheWorld Investment Report 2025arrives at a moment when that mirror reflects both strainand opportunity. The global economy continues to grapple with a complex set of challenges:mounting debt, persistent underperformance in GDP growth, geopolitical tensions, and structuralshifts in trade and investment flows. As our report shows, global foreign direct investment contracted for the second consecutive year.International project finance, critical for large-scale infrastructure and development, registeredthe steepest decline, falling by 26 per cent. Meanwhile, cross-border mergers and acquisitionsremained below the long-term average, signalling a structural shift toward domestic and near-shore investment strategies amid rising policy risks, regulatory scrutiny and global uncertainty. What is most alarming, however, is the continued deterioration of investment flows into keysectors aligned with the Sustainable Development Goals. In 2024, investment in energy and gassupply fell by 28 per cent, while project finance in renewable energy declined by 16 per cent.This trend comes at a time when the world can least afford to fall short. Reversing this negativetrend in Goals investment will demand not only more capital – both public and private – but alsodeeper alignment of investment flows with long-term sustainability goals. Amid these challenges, the report identifies investment in the digital economy as an engine ofgrowth and transformation. The digital economy is expanding at an annual rate of 10 to 12 percent, outpacing global GDP growth and accounting for a rising share of value creation worldwide. World Investment Report 2025International investment in the digital economyOverview Yet this growth is not equally distributed. Despite more than $500 billion in greenfield investmentin th