"Investment flows to landlocked developing countries grew by 6% in 2022"

" Investment flows to landlocked developing countries grew by 6% in 2022 \r\nForeign direct investment (FDI) in the 32 landlocked developing countries (LLDCs) as a group rose by 6% to US$20 billion in 2022,\u00a0UNCTAD\u2019s World Investment Report 2023 published on 5 July has shown\r\n\r\nThe top five recipients were Kazakhstan, Ethiopia, Uzbekistan, Mongolia and Uganda, in that order.\r\n\r\nFlows to LLDCs in\u00a0Africa, Asia and Europe increased, while those to LLDCs in Latin America and the Caribbean fell.\r\n\r\nIn Africa, Ethiopia remained the second largest LLDC recipient, despite a decline in inflows. FDI in Uganda increased by 39%, to US$1.5 billion owing to large projects in extractive industries. Flows to Niger declined slightly to US$581 million, but international project finance activity increased.\r\n\r\nThe two Latin American LLDCs saw contrasting trends. Flows to Bolivia turned negative again (-$26 million), mainly due to the extraordinary payment of dividends in the hydrocarbon sector.\r\n\r\nHowever, other economic sectors showed increased investment. In Paraguay, flows more than doubled to US$474 million.\r\n\r\nAmong the LLDCs in developing Asia, Kazakhstan saw FDI increase by 83% to US$6.1 billion. While equity turned negative, reinvested earnings reached US$10 billion \u2013 the highest value ever recorded \u2013 boosted by high profits in the extractive industries.\r\n\r\nFlows to Uzbekistan reached a record US$2.5 billion, mostly due to the doubling of reinvested earnings to US$1.2 billion. Payment of dividends in the extractive industries caused FDI flows to Azerbaijan to turn negative to -US$4.5 billion.\r\n\r\nLooking at the LLDCs as a group, the number of greenfield project announcements increased by 15% and the value tripled, to US$31 billion. The increase was particularly pronounced in extractive industries.\r\n\r\nThe number of international project finance deals was 19% lower than in 2021, and the value plummeted by 72%, to US$19 billion. The majority of projects targeted renewables, but projects were also announced in power, mining and industrial real estate.\r\n\r\nFDI to LLDCs originates mostly from a few key investor countries. With US$20 billion, China was by far the largest investor in 2021 (with US$7.5 billion in Kazakhstan alone), followed by Thailand, Canada and the Netherlands.\r\n "

"Investment flows to landlocked developing countries grew by 6% in 2022"

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