Recession pulls FDI 69% down

source: Mmegi
MBONGENI MGUNI
Staff Writer

The value of Foreign Direct Investment (FDI) facilitated by the Botswana Export Development and Investment Authority (BEDIA) dropped by approximately 69 percent last year as the global recession restricted capital flows and blunted the country’s allure to investors.

Yesterday, the government’s key foreign investment agency unveiled lacklustre FDI figures for 2009 indicating a 68.8 percent decline in investment to P319.7 million. This was against a target of P550 million for the year.In comparison, in the 2008/09 financial year, BEDIA facilitated foreign investment in Botswana worth P539.9 million against a target of P500 million. Over the same period, these investments created 2, 044 jobs while for the 2009/10 reporting period the P319.7 capital investment created 225 jobs. During both years, the [continue reading]

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