There has been growing evidence of a shift in global business power, with foreign investment from developing countries now a major factor in the world economy. In its latest report, the United Nations Conference on Trade and Development (Unctad) has confirmed the trend that has prompted speculation of billion dollar takeovers in Europe by firms including Indian steelmaker Tata.
According to Unctad, foreign direct investment from developing countries and transition economies, such as Russia and the former Soviet Union, rose 5% to EURO 110 billion (US$133bn)in 2005 - with more and more firms in developing nations flexing their muscles and investing overseas.
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