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World Investment Report 2022

Global flows of foreign direct investment recovered to pre-pandemic levels
last year, reaching $1.6 trillion. Cross-border deals and international project
finance were particularly strong, encouraged by loose financing conditions and
infrastructure stimulus. However, the recovery of greenfield investment in industry
remains fragile, especially in developing countries.

This fragile growth of real productive investment is likely to persist in 2022.
The fallout of the war in Ukraine with the triple food, fuel and finance crises,
along with the ongoing COVID-19 pandemic and climate disruption, are adding
stresses, particularly in developing countries. Global growth estimates for the
year are already down by a full percentage point. There is significant risk that
the momentum for recovery in international investment will stall prematurely,
hampering efforts to boost finance for sustainable development.

The World Investment Report supports policymakers by monitoring global and
regional investment trends and national and international investment policy
developments. The report reviews investment in the Sustainable Development
Goals and in climate change mitigation and adaptation. It also looks at sustainable
finance trends in capital markets and among institutional investors.

The coming years will see the implementation of fundamental reforms in
international taxation. These reforms are expected to have major implications for
investment policy, especially in countries that make use of fiscal incentives and
special economic zones. The report of this year provides a guide for policymakers
to navigate the complex new tax rules and to adjust their investment strategies.
I commend this report to all engaged in promoting investment in sustainable
development.