ECONOMY: Are We Attractive Enough for Foreign InvestmentÂ‘
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Foreign Investment Decreases
FDI in the mining and quarrying sector as a proportion of total FDI stock Â— as opposed to flow Â— increased from 5.7% in 1989 to 33.4% in 2009. Investment in the manufacturing sector decreased from 47% in 1989 to 27.9% in 2009. Investment in the financial sector increased from 26.5% in 1989 to 39.3% in 2000, and subsequently decreased to 27.1% in 2009, according to the data sourced from the South African Reserve Bank.
Foreign Investment Drops in Africa
South African FDI in African countries in 2009 amounted to R116bn. The largest proportion was held in Mauritius (42.6%), followed by Mozambique (5.5%). FDI flows to South Africa decreased by 71% from $5.4bn in 2009 to $1.6bn in 2010, according to the United Nations Conference on Trade and Development (Unctad) World Investment Report 2011. Foreign investment flows to South Africa as a proportion of gross fixed capital formation (GFCF) decreased from 14.5% in 2008 to 8.4% in 2009.
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