FDI in Developing Countries Projected to Plummet 50 Percent this Year

FDI in Developing Countries Projected to Plummet 50 Percent this Year

"This will threaten the world's ability to achieve the 2030 Agenda for Sustainable Development," experts from United Nations Industrial Development Organisation (UNIDO), John Cabot University Rome, Kaspersky, The EuroScience Open Forum, University of Tokyo, and CloudMinds told the Global Manufacturing and Industrialisation Summit (#GMIS2020) Virtual Edition, reported Emirates News Agency WAM.

In spite of this, they argued, the pandemic provides an opportunity to accelerate progress towards collaborative solutions to development issues, most notably to advance manufacturing technologies and digitalisation.

Dr. Bernardo Calzadilla-Sarmiento, Managing Director, Directorate of Digitalisation, Technology and Agribusiness, UNIDO, said that prior to the crisis there was an estimated investment gap of $2.5 trillion per year to implement the Sustainable Development Goals, SDGs, and the current situation risks aggravating this trend, which could amplify existing challenges in global production.

"The fourth