The slowdown in emerging markets has hit foreign direct investment flows into much of the developing world. But there are significant disparities among geographical regions.
随着新兴市场经济放缓,流入许多发展中国家的外商直接投资(FDI)也受到了影响。但各地区间存在明显差异。
Advanced economies are expected to see stronger economic growth in 2015, while growth in emerging economies is projected to decline from 4.6 per cent in 2014 to 4.3 per cent in 2015, according to the International Monetary Fund’s latest World Economic Outlook.
根据国际货币基金组织(IMF)最新的《世界经济展望报告》(World Economic Outlook),2015年发达经济体有望加快经济增长,而新兴经济体的增长率预计将从2014年的4.6%下降到4.3%。
Asia’s emerging markets have continued to perform well in attracting FDI, with India, Malaysia and Vietnam all seeing large increases in the number of inbound greenfield investment projects in 2014 compared with the previous year, according to a report from fDi Intelligence, a data division of the Financial Times group. Indonesia, Singapore and Thailand also enjoyed increases last year. China, the region’s largest FDI destination by a long measure, had a rise of 4 per cent in projects and 9 per cent in capital investment — suggesting that FDI into China could be reaching a plateau due to slowing growth and rising costs.
根据英国《金融时报》集团旗下数据部门fDi Intelligence的一份报告,亚洲新兴市场在吸引FDI方面继续表现良好,2014年印度、马来西亚和越南的绿地投资项目数量与上年相比均出现大幅增长。印尼、新加坡和泰国吸引的项目数量也有所增长。中国作为亚洲地区长期以来最大的FDI目的地,去年项目数量增长了4%,资本投资增加了9%,这表明受经济增长放缓以及成本上升因素影响,流向中国的FDI可能进入了一个增长平台期。
Regionally, Africa witnessed the largest increase in inward investment in 2014 versus 2013, at 65 per cent. Egypt, Morocco and Mozambique saw large increases in project numbers, while Egypt, Angola, Morocco, Ghana and Zambia all moved into the top 10 destinations in the region by capital investment, replacing Iraq, Jordan, Ethiopia, Algeria and Kenya, countries that have been affected by geopolitical uncertainty or security issues. Ghana, Nigeria and South Africa saw decreases in their project numbers.
从地区整体来看,非洲2014年外来投资创下最大增幅,较2013年增加了65%。埃及、摩洛哥和莫桑比克在项目数量上均出现大幅增长,同时,按资本投资计算,埃及、安哥拉、摩洛哥、加纳和赞比亚全都进入该地区前十大投资目的地之列,取代了伊拉克、约旦、埃塞俄比亚、阿尔及利亚和肯尼亚等受到地缘政治不确定性或安全问题影响的国家。加纳、尼日利亚和南非的项目数量则出现下降。
In the Middle East, the United Arab Emirates was the leading destination by number of projects attracted, with 11 per cent growth in 2014. War-torn Iraq saw its number of inward FDI projects halved in 2014. Qatar and Saudi Arabia both had double-digit decreases in project numbers.
在中东,以项目数量计算,阿联酋是最大的投资目的地国,2014年项目数量增加11%。饱受战争蹂躏的伊拉克2014年FDI项目数量减少了一半。卡塔尔和沙特阿拉伯在项目数量上都出现了两位数的下降。
Emerging Europe had a difficult time in 2014, with a dearth of outbound investments from Russia impacting negatively on investment levels across central, eastern and southeastern Europe and the CIS markets. FDI into Russia itself took a plunge with a 39 per cent decrease in project numbers, although large investments by a handful of Chinese investors kept capital investment levels at an estimated $12bn.
欧洲新兴市场在2014年度过了一段艰难时光,由于缺乏来自俄罗斯的投资,欧洲中部、东部和东南部以及独联体市场的投资水平都受到了影响。俄罗斯自身的FDI项目也锐减39%,但得益于若干中国投资者的大笔投资,其资本投资水平保持在120亿美元左右。
Ukraine, locked in sectarian strife in the eastern part of the country and teetering on the brink of war with Russia, saw capital investment drop by 80 per cent and projects by 64 per cent. Less predictably, Turkey, among the fastest growing investment destinations in recent years, was hit with a 49 per cent drop in capital investment and it fell out of the top ten list of destination countries in Europe by project numbers. The Turkish economy grew less than 3 per cent last year, according to the state statistics agency, missing government targets, while violence in neighbouring Iraq and Syria rattled confidence.
乌克兰由于该国东部地区的宗派冲突,加上濒临与俄罗斯爆发战争,FDI流入大幅减少,资本投资下降了80%,项目数量减少了64%。土耳其是近年增长最快的投资目的地国家之一,但出乎意料的是,去年该国FDI资本投资下降了49%,其因此跌出了欧洲以项目数量计十大投资目的地国家排行榜。根据土耳其国家统计机构数据,去年土耳其经济增速不足3%,没有达到政府目标,同时邻国伊拉克和叙利亚的暴力事件也打击了投资者对该国的信心。
Poland and Romania saw slight declines in project numbers, of 1 per cent and 2 per cent respectively. Among the few countries in the region to enjoy a rise in FDI, Macedonia had a 35 per cent increase in project numbers and a 74 per cent increase in capital investment last year.
波兰和罗马尼亚的FDI项目数量出现轻微下跌,分别减少1%和2%。马其顿是该地区少数几个FDI增加的国家之一,去年项目数量增加35%,资本投资增加74%。
Latin America and the Caribbean has been the worst performing developing region for FDI, with a 39 per cent decline in capital investment and a 16 per cent decline in the number of FDI projects last year.
拉丁美洲和加勒比地区是吸引FDI方面表现最差的发展中地区,去年该地区FDI资本投资下降39%,项目数量下降16%。
All of the top 10 FDI destination countries in the region had decreases in project numbers in 2014 except for fast-growing Panama. These included Mexico (with a 15 per cent decline), Brazil (-4 per cent), Colombia (-41 per cent), Chile (-27 per cent), Argentina (-26 per cent), Peru (-22 per cent), Costa Rica (-15 per cent), Puerto Rico (-33 per cent) and Uruguay (-13 per cent).
除增长迅速的巴拿马以外,2014年该地区前十大FDI目的地国家的项目数量全都出现下降,分别是:墨西哥,下降15%;巴西,下降4%;哥伦比亚,下降41%;智利,下降27%;阿根廷,下降26%;秘鲁,下降22%;哥斯达黎加,下降15%;波多黎各,下降33%;乌拉圭,下降13%。