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UNCTAD shows 49% foreign investments drop

Global foreign direct investment plummeted by 49% during the first half of 2020 compared with a year ago due to the pandemic, UNCTAD reported.

Australia's most populous city, Sydney, has a high concentration of foreign banks and multinational corporations
Australia's most populous city, Sydney, has a high concentration of foreign banks and multinational corporations (AN/Jorge Láscar)

Global foreign direct investment plummeted by 49% in the first half of 2020 compared with a year ago due to the coronavirus pandemic, the U.N. Conference on Trade and Development reported on Tuesday.

Government-ordered lockdowns around the world slowed existing investment projects, UNCTAD said in its latest Investment Trends Monitor, while multinational businesses reconsidered new projects due to the prospect of a deep global recession.

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