Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-04-06-Speech-3-373-000"
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"en.20110406.29.3-373-000"2
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"Foreign direct investment (FDI) is defined as ‘a long-lasting investment, representing at least 10% of the affiliated company’s equity capital/shares and providing the investor with managerial control over the affiliated company’s operations’. With the entry into force of the Treaty of Lisbon, FDI came under sole EU competence, the main roles of which are managing current bilateral investment treaties (BITs) and setting out a European investment policy ‘which meets the expectations of investors and beneficiary states’. The implementation of a common investment policy is being advocated on the basis of these new responsibilities. It is disputable, at the very least, that FDI brings the much-vaunted gains for the ‘beneficiary’ countries. This is particularly the case if it is carried out under the jurisdiction of the EU, in defence of the interests that it usually defends.
The example of Portugal is particularly revealing. Since it is true that one of the serious problems that the Portuguese economy is facing is the continued fall in investment, as is reflected in low rates of economic growth and rising unemployment, there has been a great deal of FDI in the Portuguese economy over the years. Nevertheless, the reality is that a growing share of the wealth generated in Portugal is being transferred abroad."@en1
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