WASHINGTON – Over 80 per cent of state agencies mandated with attracting foreign direct investment in the developing world either failed to reply or gave incomplete data to a consultant testing their responsiveness, the World Bank said on Monday.
Agencies failing to respond fully are costing their countries in terms of lost foreign direct investments, or money spent by multinational companies in long-term projects abroad, and 94 of the 114 agencies surveyed fit that description. “It’s quite amazing, because that’s probably the core of the job of an investment promotion agency: answering investors’ questions,” said World Bank investment promotion officer Eduardo Hernandez of the inaugural global study.Nampa-Reuters”It’s quite amazing, because that’s probably the core of the job of an investment promotion agency: answering investors’ questions,” said World Bank investment promotion officer Eduardo Hernandez of the inaugural global study.Nampa-Reuters
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