Agence France Presse | October 28, 2003
Foreign investment into service industries is rising, with new areas such as telecoms attracting interest from more traditional financial and trading services, the United Nations Conference on Trade and Development (UNCTAD) said Tuesday.
The services sector attracts about 60 percent of total foreign direct investment (FDI) globally up from less than 50 percent a decade ago, the Geneva-based organisation said in a statement.
"At the same time, a new pattern of services FDI has emerged, with financial and trading services, the traditional bulwarks of services stock, ceding ground to new industries," it said.
According to UNCTAD, funds into finance and trading services fell to 45 percent of total investment in services in 2001 from 65 percent in 1990.
At the same time, FDI in new service industries, including power generation, telecommunications and business services, surged to 44 percent from 17 percent.
Information and communication technologies crossed borders, making them more attractive areas for investment, UNCTAD explained.Agence France Presse:
