From left, Dimyanos Kattar, Abdallah al-Dardari and Nassib Ghobril attend a conference in Beirut, Tuesday, June 24, 2014. (The Daily Star/Mohammad Azakir)
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Foreign direct investment flows to Lebanon dropped 23 percent in 2013 while those to the West Asia region declined by 9 percent compared to the previous year, the UNCTAD World Investment Report 2014 showed.Greenfield FDI decreased 48 percent year-on-year in 2013, a steep decline which rings alarm bells over the government's failure to channel investments into productive sectors, Ghobril said. Greenfield FDI accounted for 0.2 percent of GDP in 2013, down from 5 percent in 2009 when total Lebanese FDI reached $4.8 billion. After a decline in 2012, global FDI flows rose by 9 percent to $1.45 trillion in 2013 while flows to developing economies reached a new high at $778 billion, accounting for 54 percent of global inflows, and recording a growth rate of 7 percent.
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