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India, Saudi Arabia most attractive FDI destinations, says industry body

Major developing economies like India and Saudi Arabia have emerged as the two top most attractive destinations for foreign direct investment after the global economic meltdown, industry body the Associated Chambers of Commerce and Industry of India said on 8 November.

"The FDI inflows into the developed countries registered a sharp decline of about 30 percent in 2008, while the developing nations have experienced an increase of about 17 percent and sustained their uninterrupted inflows," Assocham says.

It said that China is leading as the priority host economy for FDI among the developing economies and also the second largest FDI recipient in the world. Hong Kong, Russia, Saudi Arabia and India are also attracting maximum FDI, it added.

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