英文【联合国】贸发会最新世界投资报告（英）.docx

«<2024-XWor1.dinvestmentMbreport1.nstmentfaci1.itaanddigita1.govern沿United却Nationsfc¾CIn袍Stmentfaci1.itation2024Wor1.dinvestment二蜜¾United&NationsGeneva.20242024Unr1.odNationsAJI5tsreseza。WOd(M1.gRequeststoreproduceexcerptsortophotocopyshou1.dbeaddressedtotheCopyrightC1.earanceCQngratcopyr>.A1.otherqueriesonrightsand1.icences,inc1.udingsubsidiaryrights.shou1.dbeaddressedto:UnitedNationsPub1.ications405East42dStreetNewYork.NewYork10017UnitedStatesofAmericaEmsui:putt»cabonsun.orgWebsite:httpS77shopun.orgThedesignationsemp1.oyedandthepresentationofmateria1.onanymapinthisWOrkdonotimp1.ytheexpressionofanyopinionvatsoeveronthepartoftheUnitedNabonsconcerningthe1.ega1.statusofanycountry,territory,cityorareaorOfitsauthorities,orconcerningthede1.imita1.ionofitsfrontiersorbourjariGs.Mentionofanyfirmor1.icensedprocessdoesno1.<npaytheendorsemento1.theUnitedNations.Thispub1.icationhasbeeneditedexterna1.1.y.UnitedNationspub1.icationissuedbyUNTradeandDeve1.opment.UNCTD.WIR1,2024ISBN978-92-1-003134-9PDF1.seN97*921-358973-1EPUB妗BN978-92-1-358974-8PrintISSN10202218On1.ineISSN22251677Satesno.E24.Di1.PrefaceInvestmentisthefue1.forsustainab1.edeve1.opment.C1.osingtheSDGandc1.imatefinancinggapwi1.1.requireanestimated$500bi1.1.iono1internationa1.pub1.icfinanceand$500bi1.1.ionotinternationa1.privatefinanceperyear,muchofwhichoudbeintheformofforeigndirectinvestment.Butmanydve1.opngcountriesarerunningonempty.G1.oba1.andregiona1.crises,tradetensionsandtighterfinancingconditionshavehadachi1.1.ingeffectonforeigndirectinvestment,wh>chremainedsubduedin2023forasecondyearinsuccession.G1.oba1.f1.owsofforeigndirectinvestmentstagnatedat$1.3tri1.1.ion.Notab1.y,foreigndirectinvestmentnowindustria1.andinfrastructureprojectsindeve1.opingu11triesdec1.ined,wenewinvestmentinsectorsre1.evanttotheSustamab1.eDeve1.opmentGoa1.sfe1.1.bymorethan10percent.StagnantSDGinvestmentandinsufficientfundingissevere1.yhinderingimp1.emerrtationofthe2030AgendaandtheSDGs.particu1.ar1.yn1.eastdeve1.opedcountries.Weneedurgentactiontoremoveobstac1.esandprovideatransparent,stream1.inedinvestmentc1.imateforSustainabtedevtopmG11t.ThisWoridInvestmentRepoc1.showsthatthe1.ack1.ustrefinancia1.f1.owstodevetopinguntriesarenotduetoa1.ackofinvestmentpo1.icyeffortsInvestmentIaoiitationhasbecomeaprominentfeatureofnationa1.po1.iciesandinternationa1.agreements.Digita1.governmentso1.utionsarepro1.iferating,a>dnginvestorsandstrengtheninggovernanceandinstitutions.Butdespdetheseefforts,finanis11o1.f1.owingatsufficientsca1.e,duetohighinterestratesandgeopo1.itica1.conditions.ThaimeansWemustredoub1.eourefforts.Iurgea1.dec三sionmakerstopnexitizethemobi1.izationofsustainab1.efinanceatsca1.e.TheSDGStimu1.uswehaveproposedisapractica1.andachievab1.emeansofde1.iveringthis.Ourca1.1.forreformandsca1.ingupofmuhi1.a1.era1.deve1.opmentbanksisintendedtosignificant1.yincreasethecrowdinginofprivateinvestment.Ia1.soenuragepo1.icymakerstoprioritizestrengtheninginvestmentgovernanceindeve1.opingcountries,toensurefinancia1.f1.owsaredirectedtowardstheSDGs.UNCTADsrecommendationsfortheuseofbusinessfaci1.itationanddigita1.governmenttoeasesustainab1.einvestmentcanp1.ayanimportantpartnachievingthesegoa1.s.AntonioGuterresSecretary-Genera1.oftheUmtedNationsForewordInav/or1.dgrapp1.ingwithg1.oba1.andregiona1.crises,thede1.icateba1.anceo1.foreigndirectinvestment(FDI)hangsprecarious1.y.ThisWor1.dInvestmentReport(WIR)servesasastarkreminderthatinvestment,the1.ifeb1.dofsustainab1.edeve1.opment,isnotmere1.yastatisticbuta1.ife1.inefordeve1.opingnations.Itisthefue1.thatPowerSprogresstowardstheSustainab1.eDevetopmentGoa1.s(SDGs)andthe2030AgendaforSustainabteDeve1.opment.Thecha1.1.engesWefacearemu1.tifacetedanditernectedGeoeconomicfrag11>etatioisreshapingthe1.andscapeofg1.oba1.investment.Tradenetworksarefragmenting,regu1.atoryenvironmentsaredivergingandinternationa1.supp1.chainsarebeingreconfiguredTheseshiftscreatebothobstac1.esandiso1.atedopportunities,withsomecountriesbenefitingfrominvestmentsing1.oba1.vak)echain11tesrvemafacturogwhi1.eothersstrugg1.etopa11icipateintheg1.oba1.e11omy.OveraB.however,thesetrendsareteadngtoafu11herdeteriorationoftheinternationa1.investment1.andscapeasseenfromthedeve1.opingwor1.d.1.astyear.FDIfe1.1.bymorethan10percentg1.oba1.1.y,andby7percentinthedeve1.opingwor1.d,1.terat>ona1.projectfinance,crua1.forinfrastructuredexetopme11t,wasparticu1.ar1.yhardhit.fa1.1.ingby26percentProspectsfor2024remaincha1.1.enging,withWeakeninggrowthprospectsandcontinuingtradeandgeopo1.itica1.tensions.Furthennore.theWIRrevea1.sacrisisinSDGinvestment,withamorethan10percentdecreasein2023.Twosectors,agrifoodsystemsandwaterandsanitation,registered伯WGr1.ntema1.iOna1.ryfinancedprope1.sin2023thanin2015.whentheSDGswereadoptedThisdedme,drivenbytighterfinancingconditionsandas1.owdov/ninsustainab1.efinancemarkets,underscorestheneedforconce11edactiontosteerinvestmentstowardsprojectsthatgenuine1.yntrbtetoasustainab1.efuture.MeanwhiIeJhemoNiza1.icx以fundsforSDGinvestmentthroughsustainab1.efinanceproductsing1.oba1.capita1.marketsissti1.1.growingbuts1.owingdown.Sustainab1.ebondsshowedmargina1.growthin2023.andnewinf1.owsinsustainab1.einvestme1.fundsdroppedby60percent.Greenwashingconcernsareincreasing1.yaffectinginvestordemand.Morebroad1.y,po1.icyactionisneededtomitigatetheriskofawdeningback1.ashagainstsustainab1.einvestmentstrategies.TheWorkineedsarobustandcredib1.eSustainaUefinanceindustry,andnottodmustbesparedtofortifyitbeforeitistoo1.ate.ButthewayWedothatmustbcarefu1.1.yconsidered.Po1.>cymakersshou1.dbemmd1.u1.ofthespi1.1.overeffectsofinternationa1.SustainaNityreportingstandards,particu1.ar1.yonsma1.1.andmedium-sizedenterprises(SMEs)indeek>pi11guntris.TheseSMEs,theenginesOfinc1.usivegrowthandjobcreation,arePreaS*theonesthatneedSustainaWefinancef1.owsthemostHowevertheymaystrugg1.etomeetincreaseddisc1.osurerequirements.poterrtia1.yaffectingtheirmarketaccessandPafteipatiOning1.oba1.supp1.ychains.Strikingaba1.ancebetweenpromotingtransparencyandavoidingundueburdensonbusinesseswi1.1.becrucia1.forasustainab1.eandinc1.usiveinvestment1.andscape.Againstthismp1.exbackdrop,theWIRu11dersrestheimportanceofinvestmentfaci1.itationanddigita1.govem(nentastoo1.stoattractandretaininvestmentBystream1.iningprocedures,enhancingtransparencyand1.everagingdigita1.too1.ssuchason1.inesing1.ewindows,wecanfosteramoredciveinvestmente1.uate,particu1.ar1.ymdevetopingcountriesFurthermore,thereportemphasizesthatdigita1.businessandinvestmentfaci1.itationisnotmere1.yatechnica1.so1.ution;itisasteppingstonetowardsWKierCqiIa1.governmentimp1.ementation,whichcanaddressunder1.yingweaknessesingovernanceandinsbtuticx¾thatoftenhinderinvestmentandimpedeprogresstowardssustainab1.edeve1.opment.Investmentfaci1.itation,whi1.eessentia1.,isnotapanaceaforthecha1.1.engesfacingg1.oba1.investmentf1.ows.HoweverJtisanudeiabteprerequisitefoefosteringanenvironmentCondUCZetosustainab1.einvestment.Thepro1.iferationofdigita1.so1.utionsforinvestmentfaci1.itation,ashigh1.ightedinthisreport,exemp1.ifiestheWIRscommitmenttoprovidingtangib1.eandactionab1.epo1.icyrecommendationseveninthemostcha1.1.engingoftimes.Aswenavigatethecomp1.exitiesofthe21stcentury,theW旧remindsusthatinvestmentisnotjustaboutcapita1.f1.ows;itisabouthumanpotentia1.,environmenta1.stewardshipandtheenduringpursuitofamoreequtabteandsustainab1.ewor1.d1.etusembracethisvisionWrthreneweddetermination,recognizingthatthechoicesWemaketodaywi1.1.shapeth©wor1.dwe1.eavebehindforgenerationstome.RebecaGrynspanSecretaryGenera1.ofUNTradeandDeve1.opmentAcknow1.edgementsTheWor1.dInvestmentReport2024waspreparedbyateamatUNCTAD1.edbyRichardBoJwijn.UNCTADteammembersinc1.udedDafinaAtanasova.ViXen1.Beyer.StephaniaBoni1.1.a.Ju1.ienBornon,BrunoCase1.1.a,Josephe1.ements,Mathi1.deC1.osset,TiffanyGrabski,FrankGroze1.,Nata1.iaGuerra.NamedE1.Kady,Anastasia1.eskova.MassimoMe1.oni.AnthonyMi1.1.er.BtaMonazavi,AbrahamNegash,YongfuOuyang,MariosPournaris,IanRichards,DianaRosert,AmefcaU.SantosPauiino.ChangbumSon.AstritSu1.starova,YihuaTeng.QaudiaTrentiniandKeeHweeWee.ResearchsupportandinputswereprovidedbyCimanAra1.Gh.GregoryA1.1.anAuc1.air.WeijiaHu.OktawianKuc,Cort1.eRoux,NoeMichon1.E1.isaNavarra,Ne1.sonPerez,1.ucasRicardo,1.aurenSatterthwaite.PrachiSharma.KjartanSorensen.RickvandetMaasandVanmaVegezzi.Commentsandntributionswereprovidedbyco1.1.eaguesinUNCTAD:KiyoshiAdachi.RodrigoCarcamo.MarcoFugazza.EbruGkeDessemond.Pou1.Hansen,IgorPaunovic,1.uisaRodriguez,MesutSaygi1.i,DaweiWangandAnidaYupari,aswe1.1.astheOfficeoftheSecretary-Genera1.Statis1.ica1.assistancewasprovidedbyMohamedChirazBa1.y.KeremBayrakcekenandBrad1.eyBoiurt.ITassistancewasprovidedbyChrysanthiKouHi.Themanuscriptwascopy-editedby1.ise1.ingo.Thedesignofthechartsandinfographics,andthetypesettingoftherep(x1.weredonebyMariaTeresaArrigoniandMatteoOdaniProductionofthereportwassupportedbyE1.isabethMarescha1.andKatiaVieu.AtvariousstagesofthepreparationGthetemechapter,inc0ngthepeerreview.IxainstOfmingmeetingsandCfiscusseonsinthemarginoftheUNCTADInvestmentandEnterpriseCOmmiSSJOnmeetingonInvestmentFaci1.itationforSustainab1.eDeve1.opment,theteambenefitedfromcommentsandinputsreceivedfromexterna1.experts:YasserAbbas.IsiakaAbdu1.qadirImam.Axe1.Berger.AJejandroEncinasNajera,NajwaHa1.aseh1ArchieKariuki.O1.ga1.ucia1.ozano.VictorMatass4.UgoPanizza.DenizSusar,Cami1.oTrigueros.ChhimeTshering.IngmarVa1.i.ChristianVo1.peMartincus.DanaAkramAbda1.1.ahMZoub,andJ1.AVangZhu.Theteamisgratefu1.foradvice,inputandcommentsreceivedfromnumerousOHBCiaiSincentra1.banks,nationa1.governmentagencies,iterat)naorganizationsandnon-governmenta1.organizations.Exp1.anatorynotesThetermscountryandeconomyasusedinthisreporta1.sorefer,asappropriate,toterritoriesorareas.Inaddition,thedesignationsofuntryandeconomygroupingsareintendedSdHytorstatistica1.Ofana1.ytica1.convenienceanddonotnecessarityexpressajudgementaboutthestageofdeetopmentreachedbyaparticu1.arcountryorareainthedeve1.opmentprocess.Themajorcountryandeconomygroupingsusedinthisreportfo1.1.owthec1.assificationoftheUnitedNationsStatistica1.Office: Deve1.opedeconomies:themembercountriesoftheOECD(otherthanChi1.e,Co1.ombia.CostaRica.MexicoandTurkiye),EuropeanUnionmembercountriesthatarenotOECDmembers(Bu1.garia.Croatia.Cyprus,Ma1.taandRomania)p1.usA1.bania,Andorra.Be1.arus.Bermuda.BosniaandHerzegovina.1.iechtenstein.Monaco,Montenegro.NorthMacedonia,theRepub1.icofMo1.dova,theRussianFederabon,SanMarino,Sert>aandUkrane.p1.ustheterrito11esofFaroeIs1.ands.Gibra1.tar.Green1.and.GuernseyandJersey. Deve1.opingeconomies:ingenera1.,a1.1.economiesnotspecifiedabove.Forstatistica1.purposes,thedataforChinadonotinc1.udethoseforHongKongSpecia1.AdministrativeRegion(HongKongSAR),MacaoSpecia1.AdministrativeRegion(MacaoSAR)orTawaProvinceofChina.Thrcwghoutthereport,dataoninvestmenttrendsfortheNether1.andsreferon1.ytotheNether1.ands:informationforAruba.CuraaoandSintMaartenisreportedseparate1.y.Methodo1.ogica1.detai1.sonFDIandMNEstatisticscanbefoundonthereportwebsite(https力unctad.org,top>,nvstmnVwor1.d-investmontrport).Thefo1.1.owingsymbo1.shavebeenusedinthetab1.es: Twodots(.)id>catethatdataarenotavai1.ab1.eorarenotseparate1.yreported.Rowsntab1.eshavebeenOmiItedinthosecaseswherenodataareavai1.ab1.eforanyofthee1.ementsintherow. Adash(Tindicatesthattheitemisequa1.tozerooritsva1.ueisneg1.igib1.e. AUakinatab1.eindicatesthatthete<nISnotapp1.icab1.e,un1.essotherwiseindicated. As1.ash«)beveendatesrepresentingyears,e.g.2020,21.indicatesafinancia1.year. Useofa<Jash(一)betweenda1.esrepresentingyears,eg.2020-2021.srfiesthefu1.1.periodinvo1.ved,inc1.udingthebeginningandendyears. Referencetodo1.1.ars'($)meansUnitedStatesdoars.un1.essotherwiseindcated.Annua1.ratesofgrowthorchange,un1.essOthenMsestated,poundrates.Detai1.sandpercentagesintab1.esdonotnecessari1.yaddtotota1.sbecauseofrounding.AbbreviationsAfCFTAAfricanCccxnerca1.FreeTfddeAreaNAFTANorthAmencanFreeTradeAgrcemcn1.ASEANAssocia1.icnofScahcastAsianWa1.k)reOECDOrganiSSton4rEconamcCooPCrabonandASYCUDAAutomatedSystemforCusSacreDaeaDe*kE<XAIFFASEANInwsimentFaciitsiionFranIeWXkOFDIoutAVdFOIBITbi31.eraJinvestmenttreatyOHOO1.1.iceo1.theForeignImeS1.mOmbudsmanCDPCart>11OsciasureProjectOHCHROFcedttUriiedNaikinebhCommissicneftotHumanRightsCEPACompre*)eveEconomicPartnershipAgreemee0COrganisacono1.Is1.amicCoORra1.iOnCOV)D19©aronwrusdscasc2019PPFpub>cpensonfundECTEwgyCharierTreatyPPPub>c-pnva9PamefshipEGDIG5mmentDv0(op<n9nt1.r½SDGsSustartatfeDeVe1.OPfn<MGctoESG11Mronrefxa,socia1.andgovernanceSEZspecia1.economiczoneEVeeec1.rcVBhic1.esSIDSsma1.1.is1.anddcvdopi11gS1.atesFDII(XMndeedmYe&mmtSIFASUS1.ajnabieim«strnon1.faciitatonframetxkFTAfreeYaCjeagreementSMeSSEaHandmiu11>5edenterpnsesGDPgrodomesticproductSPACspecia1.purposeMUtM1.onoo11>a11yGERGhba1.En1.cfpcisoRegistra1.icnSWFwvro11WGaHhfundGHGgrenMW期TIPtreatywithnvestmentp<0vt5onGSFOGtoba>Sus1.ainaO1.eF1.nafX»ObeervasoryTNITfansnaticnaHyIndexOVCQ1.ct*a1.va1.uechainUNDESAUn<edNattonsDeparifnent&EconomicandSocia1.AtrsKXIniematJona1.ChemberofCommerceUNCITRA1.UnitedNahonsCommttisonon1.11ternat)11ICSIDIntematJona1.Centrek>fSeatemeototIazessmentTrade1.awDtspu1.csUNCTADUnidNaebneCoMe伯nsonTracfearjICTnfocm1.inand11nun>caeonsIeCEa1.时DCVOk)PnICrtIFDIfW凶Een1.Fa1.tatK)11SorDevekjpnicn1.UNEPUnedNaeonsEmrome11tProgrammeIFRSIntGmabona1.FrMIncRcponngStandardsUNIDROITIngEIIona1.1.nShI湖fortheUnH1.cagnofPwa1.eIIAntemaitonaiimwimenta%e的e01.awIMFIntemattona1.to11eryFSdUNODCUnedNatonsOHtoeonDrugsandCrimeIPACvesimezpromotionageocyUSMCAUni1.cdSta1.esftexco-CanatSaAgreementIPFSDInvestmentPoUyFrameAtxkforSusIanaNeWASHwa1.er,Sanea1.ionandhygieneDeVek)PmMCWIRWcrW11v6Stm6<xRepoaISDSnv5tor-Sta1.edspu1.esett1.emcrcWTOWortdTradeOrganaah8ISSBIniematJona1.SuMainabiiiyStanaaoJsBoGrd11IMOfmaDoniec1.x)ogy1.DCfeastdeve1.opedcountry1.1.DCnd<×ddeve<chgcounifyM&Asmer9GrsandacquiseonsMNEmubna!i0n3CrterpnseMSMEsmicro-,smaandmedurnazed©nterpnwsTab1.eofcontentsExecutivesummaryxiChapter IInternationa1.investmenttrends1A. Foreigndirectinvestment31. G1.oba1.trends32. Trendsbygeography53. Trendsbyprojecttypeandsector21B. InvestmentintheSustainab1.eDeve1.opmentGoa1.s29C. Internationa1.production341. Keyindicatorsofinternationa1.production342. Internationa1.izationtrendso1.the1.argestMNEs363. Shiftinginvestmentpatternsamongthetop100MNEs38Chapter IIInvestmentpo1.icytrends45A. Nationa1.investmentpo1.icies471. Over