Europe lost 11 percent of FDI projects in 2009: study

08:28, June 04, 2010      

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The global recession has cost Europe 11 percent of foreign direct investment (FDI) projects in 2009, according to Ernst&Young's annual report presented Thursday in La Baule of northwest France.

"Central and Eastern Europe generally, and many of the smaller countries in Western Europe, have seen dramatic drops in project numbers as investors have flown to the safety of bigger, safer economies like the UK, France and Germany," said one of the report's author Marc Lhermitte, who is attending the Eighth World Investment Conference.

The conference, a European forum focusing on technology, business, investment and policies to stimulate global economic growth, has gathered investors and financial leaders from Europe and Asian countries in La Baule.

Central and Western European countries recorded a collective fall of 40 percent in terms of project numbers. In contrast, big economies held up relatively well to attract inward investment last year.

The report showed project numbers in Britain were down only 1 percent, while those in France, Italy and Germany were up 1 percent, 4 percent and 7 percent respectively.

Additionally, Russia, Ukraine and Turkey all posted increases in the numbers of investment projects in 2009.

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