Angola, the Indian state of Kerala and the city of Yangon in Myanmar were among the locations showing the largest growth in the number of inbound FDI projects in the first half of 2012, according to a data analysis by fDi Markets, a greenfield investment tracking tool. The data compares January to August 2011 with the same period in 2012. Overall, there was a global decline in project numbers of 22% in this time period. However, individual growth markets abounded.
Among states or regions, Minnesota in the US (with a nearly 130% increase), Mexico’s Querétaro (with a 120% gain) and Lithuania’s Vilnius County (with a 100% increase) had reason to cheer. In addition to Yangon, which benefited from Myanmar’s recently improved openness to investment, Skopje in Macedonia, Detroit in the US, Halifax in Canada and Genova in Italy all posted mid-year growth figures.
Reflecting the growing interest in opportunities in Africa, countries from sub-Saharan Africa posted many of the biggest gains seen globally. Côte d'Ivoire with 800% growth, Republic of the Congo with 500%, and Malawi, Sierra Leone and Sudan, all with 300%, were the top five in the region for FDI growth. Although it must be stated these percentages are skewed somewhat by the fact that project numbers started from a small base, nonetheless, the rapid upward trend is worth noting.
Retail and intra-state project figures were excluded from the analysis.