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"No large-scale diversion of FDI from the older European Union (EU) members to CEE countries has occurred" (Photo: EUobserver)

Investment not flowing West to East says report

Contrary to the fears of some in the "old" EU, investment and jobs do not appear to be flowing to the new member states, according to a new UN report published yesterday.

The report - from the UN investment body UNCTAD - showed an "unexpected plunge" in flows of foreign direct investment (FDI) into Eastern Europe last year to 21 billion dollars, down from record highs in 2002.

Slovakia and the Czech Republic were the worst affected.

"The region's modest performance last y...

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"No large-scale diversion of FDI from the older European Union (EU) members to CEE countries has occurred" (Photo: EUobserver)

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