It emerged on Wednesday that Hong Kong is the world's second most popular investment destination, according to the UN's 2002 World Investment Report.
The United Nations survey, which covered the period between 1998 and 2000, classified the SAR as a 'front runner' economy, by which it was meant that the jurisdiction had 'outperformed its investment potential by attracting very high FDI flows relative to its economic size'.
During the period in question, the UN revealed, Hong Kong came second only to Belgium and Luxembourg in fulfilling its potential to attract foreign direct investment (FDI). The two leading countries were ranked together, as they shared a currency prior to the introduction of the euro.
The report was released by the UN Conference on Trade and Development. The investment potential of the 140 countries examined was determined by comparing a nation's share of global foreign investment with its share of global GDP between 1998 and 2000. The survey revealed that although developed countries are the recipients of some two-thirds of FDI, some, such as Australia, Italy, and Japan fail to fully live up to their potential.
Speaking to the China Daily news service following the release of the UN report, director-general of Investment Hong Kong, Mike Rowse announced that the survey: 'clearly confirms that Hong Kong's business environment and its fundamentals remain highly attractive to international investors amidst a stagnant global economy.'
He advised that in order to maintain its attractiveness to foreign investors, the jurisdiction should continue to improve its infrastructure, upgrade the quality of its workforce, and continue to stregthen links with the mainland.
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