The international financial crisis has caused foreign direct investment (FDI) to have a negative growth for seven consecutive months. The Ministry of Commerce said on May 31 that it is difficult to achieve recovery growth in the short term.
In the first quarter, FDI once saw a decline in the month-to-month decline. In April, the FDI decline returned to 22.5% again. According to the Ministry of Commerce, the large uncertainty in the internal and external environment is the main reason for the difficult recovery.
According to the latest UNCTAD data, global FDI flows in 2008 were US$1.66 trillion, down 15% from 2007, while global FDI will fall further by 30% to 40% in 2009. At the same time, many countries have introduced preferential conditions to compete for “investmentâ€, and multinational companies themselves are seeking funds to return to their home countries. The Foreign Investment Management Department of the Ministry of Commerce stated that it will comprehensively clean up and standardize administrative fees and inspections involving foreign investment, reduce “disorderly charges†and repeat inspections, and reduce the burden on enterprises.
In addition, the Ministry of Commerce will further decentralize the approval authority for foreign investment, and vigorously promote simple online examination and approval, and improve the joint annual inspection system for foreign-invested enterprises.
Yesterday, Wu Jin, director of the Hefei Foreign Economic and Trade and Economic Cooperation Bureau, said that after the financial crisis, the situation of Hefei’s use of foreign capital was consistent with that of the whole country, basically the same as last year. He said that the poor situation of attracting foreign investment was mainly reflected in the delay in the decision-making process and the slow progress in some newly approved projects. In 2007, Unilever, one of the world's largest consumer goods manufacturers, basically completed the transfer of production bases from Shanghai and other places to Hefei to reduce costs.
Wu Jin said that in the long run, it is confident to attract foreign investment, because industrial transfer has been going on, and it is promising to obtain investment under this trend.
In the first quarter, FDI once saw a decline in the month-to-month decline. In April, the FDI decline returned to 22.5% again. According to the Ministry of Commerce, the large uncertainty in the internal and external environment is the main reason for the difficult recovery.
According to the latest UNCTAD data, global FDI flows in 2008 were US$1.66 trillion, down 15% from 2007, while global FDI will fall further by 30% to 40% in 2009. At the same time, many countries have introduced preferential conditions to compete for “investmentâ€, and multinational companies themselves are seeking funds to return to their home countries. The Foreign Investment Management Department of the Ministry of Commerce stated that it will comprehensively clean up and standardize administrative fees and inspections involving foreign investment, reduce “disorderly charges†and repeat inspections, and reduce the burden on enterprises.
In addition, the Ministry of Commerce will further decentralize the approval authority for foreign investment, and vigorously promote simple online examination and approval, and improve the joint annual inspection system for foreign-invested enterprises.
Yesterday, Wu Jin, director of the Hefei Foreign Economic and Trade and Economic Cooperation Bureau, said that after the financial crisis, the situation of Hefei’s use of foreign capital was consistent with that of the whole country, basically the same as last year. He said that the poor situation of attracting foreign investment was mainly reflected in the delay in the decision-making process and the slow progress in some newly approved projects. In 2007, Unilever, one of the world's largest consumer goods manufacturers, basically completed the transfer of production bases from Shanghai and other places to Hefei to reduce costs.
Wu Jin said that in the long run, it is confident to attract foreign investment, because industrial transfer has been going on, and it is promising to obtain investment under this trend.
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