FDI to Caribbean Increases by 39% – CARICOM Business
- The United Nations Conference on Trade and Development (UNCTAD) says investment flows to the Region reached US$134Bn last year, up from US$88Bn in 2020.
- According to UNCTAD’s World Investment Report 2022, foreign direct investment (FDI) in Latin America and the Caribbean rebounded from the pandemic-induced slump, growing by 56% to US$134Bn, after plunging 45% in 2020 -- the sharpest decline recorded in developing regions that year.
- The rebound in 2021 was propelled by a record number of 317 greenfield projects announced in information and communications technologies (ICT) sectors across the region, a 61% jump compared with 2020.
- FDI to the Caribbean specifically increased by 39% to US$3.8Bn. This rebound was mainly driven by growth in investment flows to the Dominican Republic, the sub-region’s largest recipient of foreign investment, with the country recording a 21% rise in FDI to US$3.1Bn.
(Source: CARICOM TODAY)