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Foreign Direct Investments into China Shot Up by 9% in 2020 to $163 Billion Against 49% US Decline

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Foreign Direct Investments into China Shot Up by 9% in 2020 to $163 Billion Against 49% US Decline

China had the highest inflow of Foreign Direct Investments (FDI) globally in 2020, surpassing the US which took the lead in 2019.

According to the research data analyzed and published by Comprar Acciones, China’s inflow shot up by 9% to $163 billion up from $140 billion the previous year. Meanwhile, the US had a 49% drop from $251 billion in 2019 to $134 billion.

Based on data from the National Bureau of Statistics, China reported a 2.3% growth in GDP in 2020. It was the only major economy to record a positive growth rate during the year.

Chinese Stock Market Saw 18 Million New Investors in 2020

Global FDI took a hit in 2020, falling by 42% year-over-year (YoY) from $1.49 trillion in 2019 to $859 billion. The figure was 30% lower than the one reported during the 2009 financial crisis.

Developed countries saw the worst performance, sinking by a cumulative 69% YoY to $229 billion. For developing economies, there was a 12% decline of $616 billion. By the end of 2020, developing countries accounted for a 72% share of global FDI, the highest on record. India had the highest growth among top-rated economies, shooting up by 13%.

China bore the brunt of the pandemic much better than its peers, posting a 6.5% GDP growth in Q4 2020. During the year, there were 18.02 million new investors in its mainland stock market, raising the total to 177.77 million. Driving the surge in interest was the stellar performance of Chinese stocks in 2020.

The Shenzen Component grew by 38.7% in 2020, and the CSI 300 increased by 27.2%, compared to the S&P 500’s 16.26% growth. IPO activity also soared, with China and Hong Kong accounting for 40% of global IPO volume in 2020 according to Ernst & Young.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Investment

Baker Hughes Set to Boost Nigerian Energy Landscape with Refinery Investments and Oil Field Bid Participation

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Global oil and gas giant Baker Hughes has expressed its commitment to invest in Nigerian refineries and actively participate in the upcoming bid round for marginal oil fields, according to an announcement by the Federal Government on Sunday.

The announcement followed a meeting between Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, and Baker Hughes Chairman/President Lorenzo Simonelli at the 28th United Nations Climate Change Conference in the United Arab Emirates.

During the meeting, Baker Hughes expressed its eagerness to sustain and enhance its investments in Nigeria’s oil and gas industry, particularly showcasing interest in contributing to the country’s refinery sector.

Simonelli emphasized the company’s commitment to supporting Nigeria’s energy transformation agenda.

“Nigeria is a blessed nation with vast potentials and great opportunities in diverse sectors. As a partner with the Federal Government over the years, we are inspired to direct investment in the refinery domain of oil and gas,” said Simonelli.

In response, Minister Lokpobiri welcomed Baker Hughes’ move, highlighting the pivotal role Nigeria plays in the global energy landscape.

He expressed optimism about deepening collaboration and assured the company of the Federal Government’s commitment to creating an enabling environment for investments in the refinery sector.

“I am very happy that you have joined other companies in identifying the great opportunities and government’s favourable policies in our oil and gas sector,” Lokpobiri stated.

Additionally, the Minister’s media aide confirmed Baker Hughes’ interest in participating in Nigeria’s forthcoming marginal oil fields bid round, signaling a broader engagement in the nation’s energy sector.

This move aligns with Nigeria’s efforts to revitalize its oil and gas industry, with ongoing rehabilitation works at the country’s three refineries and the anticipation of increased investments under the new Petroleum Industry Act (PIA).

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Nigeria Export-Import Bank Highlights Lucrative Investment Environment with Mexico

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NEXIM

In a meeting with the Mexican Ambassador to Nigeria, Alfredo Miranda, the Nigeria Export-Import Bank (NEXIM) revealed that investors in Nigeria are enjoying robust returns on their investments, even up to 30 percent.

Stella Okotete, the Executive Director of Business Development at NEXIM, highlighted the immense potential for collaboration between Nigeria and Mexico, emphasizing the benefits of expanding access to Nigerian goods in the Mexican market.

Okotete urged for a strategic partnership between the two nations, emphasizing that collaboration could enhance Nigeria’s foreign exchange earnings, attract investment opportunities, and foster prosperity for citizens in both countries.

She showcased Nigerian-made export goods financed by NEXIM, while underscoring other investment opportunities available in Nigeria.

She stated, “In terms of return on investments, this is the best place you can invest,” indicating the favorable investment climate in Nigeria, especially in the non-oil export sector.

Okotete also highlighted the untapped potential in Nigeria’s mining sector, expressing readiness to collaborate with Mexico to develop this sector for export.

The visit by the Mexican delegation is seen as a significant step toward strengthening economic ties between the two nations, exploring mutual benefits, fostering economic growth, and identifying investment opportunities.

Ambassador Miranda acknowledged Nigeria’s potential and initiatives by NEXIM to promote non-oil exports.

He stressed the need to identify business opportunities that could enhance trade, attract investment, and facilitate the development of both countries through their trade policies.

The meeting reflects a positive stride towards enhancing economic cooperation and fostering a strong economic partnership between Nigeria and Mexico.

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Mexican Investors Explore Solid Minerals Opportunities in Nigeria

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mining sector

The Minister of Solid Minerals Development, Dele Alake, welcomed a delegation of investors from the Republic of Mexico who are exploring investment opportunities in Nigeria’s solid minerals sector.

Minister Alake commended this initiative and underscored the commitment of President Bola Tinubu’s administration to facilitating a conducive business environment for investors in the industry.

The minister highlighted several incentives aimed at attracting investments, including zero-duty on equipment for solid minerals extraction, seamless repatriation of profits to the investors’ home countries, and tax holidays.

To ensure responsible and sustainable practices, Alake emphasized the importance of investors signing Community Development Agreements with local communities in mining areas to promote socio-economic development.

The ongoing efforts to sanitize the mining industry were also discussed, citing recent actions such as the revocation of titles failing to comply with annual service fee regulations.

Nigeria’s outgoing Ambassador to Mexico, Adejare Bello, vouched for the credibility of the visiting investors, affirming that their genuine and serious interest in business aligns with Nigeria’s economic objectives.

President of Seccion Internacional Para Africa, Dr. Heriberto Cortes, speaking on behalf of the investors, expressed gratitude for the constructive discussions with Minister Alake.

Cortes emphasized Nigeria as their African home and conveyed confidence in the safety and profitability of their investments in the country.

The visit signifies a positive stride towards strengthening economic ties between Nigeria and Mexico.

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