New survey highlights increasing divide on global foreign direct investment
One exception on support for foreign ownership was seen with Israel.
By CODY LEVINEAn employee sorts carbonator bottles while working at the SodaStream factory in the West Bank(photo credit: REUTERS/AMMAR AWAD)
A new Pew survey released on Monday found an increasing global divide over the merits of foreign direct investments in their countries, with many respondents indicating that they support foreign companies building factories in their country, but are more weary of foreign ownership of domestic firms.The survey was conducted prior to the outbreak of the coronavirus.In the survey spanning 15 countries conducted in 2019, a median of 72% of adults support when foreign companies build factories in their nation, as opposed to 26% who said it was a bad idea.In contrast, a median of 40% indicated that it is a good thing when foreign entities buy domestic firms, while 58% opposed the idea.In all the countries participating in the survey, 13 of the 15, a majority, said foreign companies building new factories in their country is a good.Broken down by participating country, three-quarters or more in Nigeria, Israel, Tunisia, South Korea, Lebanon, Kenya, Mexico and Brazil, said they supported foreign direct investment, while Turkey and Indonesia were more evenly split, with 46% and 44% of adults, respectively, saying they favored building new factories.As noted the in the survey, increasing scrutiny towards foreign direct investment has occurred since 2014, with the examples of Indonesia, Brazil and Kenya representing a downturn in support from clear majority of support for foreign direct investment.Roughly two-thirds of South Koreans, Turks, Tunisians, Argentinians, Nigerians, Japanese, Indonesians and Kenyans said it was a bad thing when foreign firms buy domestic companies.One exception on support for foreign ownership was seen with Israel, where a majority of 60% said foreign companies buying domestic firms is a good thing, likely a result of the tech section, which has been an important driver of Israel's GDP.Similarly, Japan saw an increase in support for foreign acquisitions, doubling from 16% to 33%, but nevertheless remaining comparatively low.
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