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Economic and Social Survey of Asia and the Far East 1970

image of Economic and Social Survey of Asia and the Far East 1970

This latest edition of the Survey analyzes current economic and social developments in the region against the background of events in the world economy. It also focuses on the serios problems of growth and transformation of the area's least developed and Pacific Island developing economies.

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Recent features of foreign investment in selected ECAFE countries

This chapter brings together foreign private investment data collected from regional host country sources, many virtually for the first time. Much of the data relates to approval values of foreign investment projects promoted, or registered, by the agencies responsible for the administration of national laws and regulations concerning foreign capital. No attempt has been made to reconcile approval-basis data with balance of payments data. While differing from actual inflows realized over a given time period, approvals are valuable because they indicate (a) magnitudes, types, sources and allocations of planned investments, (b ) investors’ intentions, without distortion by such exogenous factors as construction delays and other lags or lapses caused by problems of implementation, and (c) the directions in which host countries seek to channel foreign investment. However, approvals, or even registrations, do not generally reflect the entire picture of foreign investments because of the limited scope of investment promotion programmes and the difficulty of monitoring mediumand small-size non-corporate capital inflows. Furthermore, reinvestments of unremitted earnings and investments in branches of foreign companies are often not included. Because of non-compatibility in the definitions underlying the available data, each country is taken up separately, and no regional tabulations are attempted.

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