World Investment Report 2009: Transnational Corporations - Unctad
World Investment Report 2009: Transnational Corporations - Unctad
World Investment Report 2009: Transnational Corporations - Unctad
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CHAPTER II 87<br />
Figure II.29. Developed countries: comparison of<br />
the results of �������������� with ��������������<br />
(Percentage of respondents)<br />
100<br />
80<br />
60<br />
40<br />
20<br />
0<br />
2008–2010 <strong>2009</strong>– 2011 2008– 2010 <strong>2009</strong>– 2011 2008– 2010 <strong>2009</strong>– 2011 2008– 2010 <strong>2009</strong>– 2011 2008– 2010 <strong>2009</strong>– 2011<br />
Survey Survey Survey Survey Survey Survey Survey Survey Survey Survey<br />
United States/Canada EU– 15<br />
New EU– 12 Other Europe Other developed<br />
Source: UNCTAD, <strong>2009</strong>b.<br />
Decrease No change Increase<br />
Notes<br />
1 For example, two of the world’s largest mining groups,<br />
Anglo American and Rio Tinto, with major operations<br />
in African countries, have announced sizeable cutbacks<br />
in planned capital spending in <strong>2009</strong> – a move that is<br />
bound to have adverse repercussions in Africa. Anglo<br />
is halving its budget to $4.5 billion, while Rio Tinto<br />
is cutting spending by $5 billion (EIU, “Sub-Saharan<br />
Africa industry: multinationals cut back”, ���������,<br />
19 January <strong>2009</strong>, at: www.eiu.com). Norilsk Nickel<br />
(Russian Federation) will also seek to divest its assets in<br />
Australia, Botswana and South Africa, and will halve its<br />
�������������������������������������������������������<br />
said to be considering all options, including a possible<br />
merger with another metals producer, because of the<br />
�������������������������������������������������������<br />
Africa industry: Norilsk Nickel pulling out of market”,<br />
���������, 5 February <strong>2009</strong>, at www.eiu.com).<br />
2 �� ��������������������������������������������������������<br />
Markets, fDi Intelligence (www.fDimarkets.com).<br />
3 Countries in the subregion are: Algeria, Egypt, the Libyan<br />
Arab Jamahiriya, Morocco, Sudan and Tunisia.<br />
4 “Egypt industry: Edison secures 40% stake in mature gas<br />
��������������������� 15 January 2008.<br />
5 Countries in the subregion are: Benin, Burkina Faso,<br />
Cape Verde, Côte d’Ivoire, Gambia, Ghana, Guinea,<br />
Guinea-Bissau, Liberia, Mali, Mauritania, Niger, Nigeria,<br />
Senegal, Sierra Leone and Togo.<br />
6 Other investments included the following: in Côte<br />
d’Ivoire, Energy Allied International, WCW International<br />
(United States) and the Ivorian State-owned oil company,<br />
��������� ������ ������������� ��� �� ������ ���� �������� ����<br />
storage facility for $1.4 billion. Cape Verde performed<br />
exceptionally well, after a 28.5% stake in the Stateowned<br />
Empresa Nacional de Combustíveis (Enacol), was<br />
offered on the country’s stock exchange, Bolsa de Valores<br />
de Cabo Verde (BVC). In addition, a Spanish consortium,<br />
Bucan, is investing $308 million in tourism infrastructure<br />
for construction of luxury hotels.<br />
7 Countries in the subregion are: Comoros, Djibouti,<br />
Eritrea, Ethiopia, Kenya, Madagascar, Mauritius,<br />
Mayotte, Reunion, Seychelles, Somalia, Uganda and the<br />
United Republic of Tanzania.<br />
8 Countries in the subregion are: Burundi, Cameroon,<br />
Central African Republic, Chad, Congo, the Democratic<br />
Republic of the Congo, Equatorial Guinea, Gabon,<br />
Rwanda and Sao Tome and Principe.<br />
9 See: “Equatorialguinean govt buys oil assets”, ����������<br />
3 June 2008 (www.afrol.com).<br />
10 Countries in the subregion are: Angola, Botswana,<br />
Lesotho, Malawi, Mozambique, Namibia, South Africa,<br />
Swaziland, Zambia and Zimbabwe.<br />
11 Richemont, the jewellery company, sold its 19.4% stake in<br />
BAT in 2008 and distributed to the owner, while Remgro<br />
spinned off 10.7% of its holding of BAT. (“UK tobacco:<br />
Richemont to spin off BAT stake”, Financial Times, 8<br />
August 2008).<br />
12 Libyan African <strong>Investment</strong> Portfolio, owned by the<br />
Government of the Libyan Arab Jamahiriya, has a number<br />
of successful FDI operations across Africa (“Libya<br />
invades energy, ICT and tourism sectors”, at http://www.<br />
eastandard.net/InsidePage.php?id=1143990200&cid=4)<br />
The Standard, 14 July 2008).<br />
13 For example, one of Algeria’s largest gas-based industrial<br />
projects, entailing the construction of a fertilizer complex<br />
in Arzew in the west of the country, is being carried out<br />
by Sorfert, owned by Orascom Construction Industries<br />
(OCI) of Egypt (51%) and by Algeria’s national oil and gas<br />
corporation, Sonatrach (49%) (“Arzew fertiliser complex<br />
������������������������������������������������ 23 July<br />
2008).<br />
14 Egypt State Information Service available at www.sis.<br />
gov.eg.<br />
15 Communication from the Permanent Mission of Mauritius<br />
in Geneva, Switzerland, and http://supremecourt.<br />
intnet.mu/Entry/dyn/GuestGetDoc.Asp?Doc_Idx=<br />
8292881&Mode=Html&Search=No.<br />
16 India-Africa, Forum Summit 2008, New Delhi, 8–9 April<br />
2008 (for details, see: http://www.africa-union.org).<br />
17 � ���� ������� ��������� ��� ���� ��� ������� ���� ��� �����<br />
����� �������� ���� ���� ��� ������ ���� ���� ����� �������� ���<br />
<strong>2009</strong> compared to the corresponding period of 2008.<br />
18 Among the 19 States, 15 of them have data (or estimates)<br />
��� ���� ������� ��� ������ ����� ����� ����� ��������� ������<br />
French Polynesia, Kiribati, Marshall Islands, the<br />
Federated States of Micronesia, Nauru, New Caledonia,<br />
Palau, Papua New Guinea, Samoa, Solomon Islands,<br />
Tonga, Tuvalu and Vanuatu.<br />
19 �� �������� �������� ���� ����� ������ ���� ������� ����� ����<br />
������������� ������� ��� ������ ����� ��� ������� ��� ������<br />
$52.4 billion. However, inward FDI in the form of “hot<br />
money” (speculative capital driven by the expectation of<br />
����������������������������������������������������������<br />
2008 showed signs of slowing by the last quarter (Mure<br />
�������� ������� ����� ��������� ��� ����� ������� ������<br />
Financial Times, 14 October 2008).<br />
20 During the past few years, in the coastal regions of<br />
China, production costs have increased due to higher<br />
wages, tighter labour regulations and a stronger yuan,<br />
which makes those regions less competitive than before<br />
in the production of low-end goods such as textiles and<br />
garments. This trend has been interrupted by the impact<br />
�������������������������������<br />
21 By January <strong>2009</strong>, 15% of China’s 130 million migrant<br />
workers had lost their jobs and quit coastal manufacturing<br />
centres (“Downturn has sent 20m rural Chinese home”,<br />
Financial Times, 3 February <strong>2009</strong>).<br />
22 For example, ArcelorMittal may cut some components<br />
of its eight-year global expansion programme, and other<br />
planned projects may be postponed, such as plans for<br />
two new steel plants in India with a total investment of<br />
$20 billion. (Peter Marsh, “Mittal reviews $35bn growth<br />
plans”, Financial Times, 23 October 2008).<br />
23 See, for example, “Asian economies: sitting on the dock<br />
of a bay”, �������������, 22 November 2008; “Troubled<br />
tigers”, ���� ���������, 31 January <strong>2009</strong>; “Unlucky<br />
numbers”, Financial Times, 10 February <strong>2009</strong>.<br />
24 Arijit Ghosh, “BRIC should include Indonesia, Morgan<br />
Stanley says”, 15 June <strong>2009</strong> (www.bloomberg.com).