InvesTT Trinidad and Tobago, the country’s Investment Promotion Agency, released the results of the World Investment Report 2015 on 24th June, 2015 on behalf of the United Nations Conference on Trade and Development (UNCTAD).
According to the statement, after four years of consecutive increases, there was an overall decrease of flows of foreign direct investment (FDI) into Latin America and the Caribbean by 14% in 2014. However, “flows to Trinidad and Tobago increased by 21 per cent as the result of the $1.2 billion acquisition of the remaining 57 per cent stake in Methanol Holdings Trinidad Limited (MHTL) by Consolidated Energy Company (Mauritius). The Dominican Republic registered an 11 per cent increase of FDI flows to $2.2 billion, explained partly by increased investment in free zones.”
The World Investment Report has been published annually by UNCTAD since 1991 and presents data on existing trends in global foreign direct investment (FDI) and is an influential resource of economic intelligence to policy makers and the international development community. This Report comes at a time when vital discussions are needed to underscore the importance of FDI, international investment policy making and fiscal regimes to the efficacy of Investment Promotion Agencies such as InvesTT, whose primary function is to attract, facilitate and retain FDI into Trinidad and Tobago.
An overview of the World Investment Report 2015 (WIR 2015) can be accessed here.