The newly released World Investment Report 2008 has reaffirmed Hong Kong's status as one of the world's leading destinations for foreign direct investment and sources of outward foreign direct investment.
The report, unveiled by the United Nations Conference on Trade & Development today, ranked Hong Kong first, globally, in terms of the Inward Foreign Direct Investment Performance Index, meaning it is the world's best performing economy.
Hong Kong was also the world's seventh and Asia's second largest foreign direct investment recipient, attracting USD59.9bn inward investment in 2007. This amount was more than the combined total of the next three highest recipients in Asia - Singapore, India and Thailand.
Welcoming the report, Director-General of Investment Promotion Mike Rowse said the Mainland has become more significant in the city's foreign direct investment inflows with the rise of the Mainland economy and the increased outward expansion of privately owned enterprises.
Expecting the trend to continue, Mr Rowse said Hong Kong will continue to be highly attractive to overseas and Mainland companies.
"The fundamentals of our investment environment are sound: rule of law,
free flow of information, world-class infrastructure and clean government are
all in place. However, we expect, in view of the recent economic downturn and
financial turmoil, many companies may be more cautious in carrying out their
outward investment plans," Mr Rowse explained.
Globally, foreign direct investment inflows rose 30% last year reaching an all-time
high of USD1.83 trillion due to the unprecedented levels of cross-border mergers
and acquisitions activities; and sovereign wealth funds have become a significant
source of global foreign direct investment.
The report showed the Mainland still ranked first in the Asia-Pacific in foreign direct investment inflows, reaching USD83.5bn. Other advanced economies in the region also performed well, including Singapore (USD24.1bn), India (USD23bn) and Thailand (USD9.6bn).
The report attributed the strong results to general improvements in the investment
environment in the region, including further liberalisation of foreign direct
investment, strengthened regional economic integration, resilient economic growth
and strong industrial development.
The report also said that the outlook for foreign direct investment inflows to
the region remains promising as all these factors will continue to attract inflows
in spite of global economic slowdown.
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