Really?
Do you call $104 Million a year big bucks?
HAITI: FOREIGN INVESTMENT
FDI in Figures
After reaching over USD 160 million in 2013, FDI inflows stood at USD 104.4 million in 2016 (UNCTAD, World Investment Report 2017). This is a slight fall compared to 2015 (USD 105.7 million USD). FDI stocks represent 150% of GDP.
Although there are certain barriers to the development of foreign investment in the country, such as corruption, long-term political instability and burdensome bureaucracy, the Government continues to offer tax exemptions to investors. The business climate however remains mediocre, evidenced by the country's ranking (181st out of 190) in the 2017 Doing Business report issued by the World Bank. Resolving insolvency and starting a business in particular require burdensome procedures.
The transport, telecommunications and oil sectors attracted most of the investors. More recently, construction, textile and manufacture of automotive components have also been drawing the foreign investment. In 2013, the President's advisory council for economic development and investment stated that the country needs USD 20 billion in investment in the next five to ten years to become an emerging country. The organisation highlighted the bright outlook of the mining sector and tourism, as well as a security situation considered satisfactory compared to its region. Finally, Haiti has recently partnered with its neighbour, the Dominican Republic, to attract FDI.
The United States and the countries of the European Union are the main investors in the country.