HAVANA, Cuba, Dec. 3 (ACN) The Economic Commission for Latin America and the Caribbean (ECLAC) announced a possible drop in foreign direct investment (FDI) in the region of 50%, as a result of the crisis resulting from the COVID-19 pandemic.
As announced on Wednesday by the secretary general of this regional organization, Alicia Barcena, when presenting the annual study "Foreign Direct Investment in Latin America and the Caribbean" for this year, Latin America and the Caribbean is the region that would have the most significant drop in FDI, above the 40% predicted as a world average.
"The FDI received by Latin America and the Caribbean has not made significant changes in the region's productive structure, largely because the policies for attracting these flows have not been coordinated with those for productive development; FDI offers great opportunities to move towards a new sustainable economy," Barcena said at a virtual press conference.
The report highlights the renewable energy sector as the one with the largest number of project announcements in the last five years and explains that Latin America and the Caribbean have achieved a good export position in medical devices, driven by transnational companies, particularly in the case of Mexico, Costa Rica and the Dominican Republic.
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