Africa Foreign Investor Survey 2005 - unido

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The designations employed and the presentation of material in this publication do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations Industrial Development Organization concerning the legal status of any country, territory, city or area, or of its authorities, or concerning the delimitation of its frontiers or boundaries.The opinions, figures and estimates set forth are the responsibility of the authors and should not necessarily be considered as reflecting the views or carrying endorsement of UNIDO.The designations “developed” and “developing” economies are intended for statistical convenience and do not necessarily express a judgement about the stage reached by a particular country or area in the development process. Mention of firm names or commercial products does not imply endorsement by UNIDO. This publication has not been formally edited. ID/435 UNIDO Publication Sales No.: E.07.II.B.34 ISBN: 92-1-106442-2
Contents Preface Acknowledgements Foreword Abbreviations Executive summary i iii v vii ix 1. Introduction 1 Patterns of FDI flows 1 Role of technical assistance programmes 3 Objectives of the survey 4 2. Survey methodology 7 Outline of the report 7 Questionnaire 8 Sample selection and data collection 9 Data handling 10 3. An overview of foreign investment in the 15 countries 13 Introduction 13 Trends in FDI stocks and flows in the 15 countries 14 Comparison of survey data with balance of payments statistics 17 The profile of firms participating in the survey 19 Continuing links with the North 24 Firm size and performance at a country and subsector level 24 The 25 largest companies in the survey 28 4. Size profiles for different subgroups of investors 29 Organizational structure 30 Business origin 34 Market orientation 39 Sectoral distribution 42 Share structure (wholly-owned enterprises and joint ventures) 47 Entry period (start of operations) 52 5. Analysis of performance 55 Evaluation of past performance 55 Past and future sales growth 57 A comparison of past and expected future sales performance 59 Last year’s sales and overall performance of investments 62 Sales per worker (labour productivity) 65 Sales per asset value (book value) 67 Capital intensity 68 Summary 69 6. Impact on the local economy 71 Employment impact 71 Investment impact 78 Local content impact 85 Technology and know-how transfer 91 Introduction of brands and managerial know-how 98 Summary 101 7. Foreign trade 103 Export volumes 103 Expectations of export growth 105 Regional exporters 106 Global exporters 108 Export markets 110 Global vs. regional exporters 112 8. Analysis of location factors 113 Rating of importance of factors 113 Investors views on the trends in factors in host countries 114 Combining importance and trends in factors 119 Closer view on Investment Promotion Agency (IPA) assistance 119 Observed differences in perception between 2003 and 2005 survey 123 Summary 124 9. Conclusion 125 Investor groups 125 Sector groups and North-South divide 129 Country groups 129 Implications of the 2005 survey and the 2007 survey 130 Next steps 131 List of tables and figures 135 Survey questions 143 Annex 147 Bibliography 207 Contents .
Page 1: Burkina Faso Cameroon Côte d’Ivo
Page 7: Preface Investment is the key to un
Page 11 and 12: Foreword This is a pioneering and m
Page 13: Abbreviations ACP AfrIPANet AGOA AN
Page 16 and 17: Africa IPA Network (AfrIPANet) serv
Page 18 and 19: historical roots and regional marke
Page 20 and 21: cially in the services sector) pay
Page 22 and 23: small, labor intensive manufacturin
Page 24 and 25: mostly subsidiaries of small TNCs,
Page 27 and 28: 1. Introduction Little empirical st
Page 29 and 30: The simplest linkages involve being
Page 31 and 32: One of the objectives of this surve
Page 33 and 34: 2. Survey methodology Outline of th
Page 35 and 36: The initial design of the questionn
Page 37: transformation explains the differe
Page 40 and 41: adds up to higher than the total FD
Page 42 and 43: Figure 3.5 Share of the 15 survey c
Page 44 and 45: Figure 3.8 FDI stock - book value o
Page 46 and 47: Table 3.2 Top-5 foreign investor su
Page 48 and 49: majority of firms global exporters
Page 50 and 51: Continuing links with the North Fig
Page 52 and 53: Figure 3.24 Sales, book value, and
Page 54 and 55:
The 25 largest companies in the sur
Page 56 and 57:
Figure 4.1 Sales according to organ
Page 58 and 59:
Figure 4.5 Sales by main sector and
Page 60 and 61:
In terms of job creation, it is cle
Page 62 and 63:
Figure 4.17 Sales by organizational
Page 64 and 65:
clear trend of increasing South com
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of Tanzania. In Western Africa, Cô
Page 68 and 69:
ook value of South controlled, loca
Page 70 and 71:
Figure 4.37 Sales by investor origi
Page 72 and 73:
Figure 4.43 Sales in each start-up
Page 74 and 75:
Figure 4.50 Share structure distrib
Page 76 and 77:
Figure 4.52 Sales by share structur
Page 78 and 79:
Entry period (start of operations)
Page 80 and 81:
Figure 4.65 Sales by market orienta
Page 82 and 83:
Figure 5.2 Investors’ self-evalua
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Figure 5.7 Last year’s sales grow
Page 86 and 87:
Figure 5.10 Annual sales growth (pa
Page 88 and 89:
sales, old L-TNC, is among the lowe
Page 90 and 91:
Figure 5.18 Classification tree of
Page 92 and 93:
mean and median of the output per e
Page 94 and 95:
Figure 5.23 Sales per USD book valu
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6. Impact on the local economy This
Page 99 and 100:
ices firms pay wages that are more
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may be affected by the small size i
Page 103 and 104:
eveals a group of 77 subsidiaries o
Page 105 and 106:
Table 6.2 gives the distribution by
Page 107 and 108:
for accuracy. The whole sample expe
Page 109 and 110:
Figure 6.16 Expected re-investment
Page 111 and 112:
Local content impacts The analysis
Page 113 and 114:
other hand, the thesis, according t
Page 115 and 116:
Figure 6.25 Distribution of main in
Page 117 and 118:
Technology and know-how transfer In
Page 119 and 120:
Figure 6.29 Expenditure on training
Page 121 and 122:
Table 6.17 Number of university gra
Page 123 and 124:
control is of paramount importance
Page 125 and 126:
Table 6.18 Foreign investor’s bra
Page 127:
Summary Wage and employment growth
Page 130 and 131:
Table 7.1 Exports for main investor
Page 132 and 133:
Figure 7.2 Past and future export g
Page 134 and 135:
Table 7.7 Top regional export desti
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Export markets The long-established
Page 138 and 139:
global exporters’ contribution to
Page 140 and 141:
Table 8.2 Location factors consider
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Figure 8.2 Assessments of changes i
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Figure 8.7 Comparison of importance
Page 146 and 147:
Figure 8.11 Classification tree of
Page 148 and 149:
Figure 8.15 Pre-investment services
Page 150 and 151:
period (average of 15 years) over w
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Figure 9.1 Future employment and in
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taking advantage of the opening up
Page 156 and 157:
associated with FDI. In these count
Page 158 and 159:
Table 9.1 Major characteristics of
Page 161 and 162:
List of tables and figures FIGURES
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Figure 4.65 Sales by market orienta
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Table 3.1 FDI stock - book value of
Page 167:
Annex table 6.10 Expenditures on su
Page 170 and 171:
a work permit? How many engineers/s
Page 173 and 174:
ANNEX
Page 175 and 176:
Annex table 2.1 Detailed definition
Page 177 and 178:
Annex 2.4 Sample size requirements
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Annex table 3.2 Distribution of for
Page 181 and 182:
BOOK VALUE(in USD) WORKFORCE Number
Page 184 and 185:
Annex: Chapter 4 Annex table 4.1 Sa
Page 186 and 187:
Annex table 4.2 Sales, book value a
Page 188 and 189:
Annex table 4.3 Sales, book values
Page 190 and 191:
Page 192 and 193:
Page 194 and 195:
Annex table 4.6 Subsectors by inves
Page 196 and 197:
Annex: Chapter 5 Annex table 5.1 In
Page 198 and 199:
Annex table 5.7 Last year’s sales
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Annex table 5.13 Annual sales growt
Page 202 and 203:
Annex table 5.19 Sales per USD book
Page 205 and 206:
Annex: Chapter 6 Annex table 6.1 Wa
Page 207 and 208:
Annex table 6.3 Annual employment g
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Annex table 6.6 Ratio of expected r
Page 211 and 212:
Percentage of local content MEAN ME
Page 213 and 214:
Annex table 6.11 Expenditure on tra
Page 215 and 216:
Annex table 6.14 Proportion of univ
Page 217 and 218:
Annex table 6.16 Proportion of expa
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Annex figure 6.1 Classification tre
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Annex figure 6.5 Classification tre
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Annex: Chapter 7 Annex table 7.1 To
Page 225 and 226:
Annex table 7.4 Export growth (past
Page 228 and 229:
Annex: Chapter 8 Annex table 8.1 Lo
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Annex table 8.4 Ranking of countrie
Page 232 and 233:
Annex figure 8.1 Assessment of chan
Page 234 and 235:
Economist Intelligence Unit (EIU) (
Page 236:
Printed in Austria March 2007 UNITE
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Africa Foreign Investor Survey 2005 - unido

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