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Barbados received $524 million in foreign direct investment last year, putting it among a select group of small island developing states (SIDS) that received the most of such inflows.
That is based on foreign direct investment (FDI) information published in the United Nations Conference On Trade And Development’s (UNCTAD) World Investment Report 2021.
“In Barbados, inflows increased by 22 per cent to $524 million despite the pandemic. FDI diversification efforts targeted renewable energy, creative and artistic industries and agro-industries, among others,” the report stated.
UNCTAD reported that in 2020, under the strains of the pandemic, FDI inflows to the SIDS fell by 40 per cent, to $5.2 billion, and said this drop “eliminated the gains recorded in 2019, which followed three consecutive years of decline”.(SC)