Opposition Spokesperson on Productivity, Efficiency and Competitiveness, Peter Bunting, has signalled that a decline in the net foreign direct investment (FDI) inflows as a per cent of gross domestic product (GDP) should not come as a surprise given the recent controversies involving the treatment of independent oversight institutions locally.

In his contribution to the Sectoral Debate in Parliament on Wednesday, Bunting said FDI inflows as a per cent of GDP have declined to around 1.5 per cent to two per cent of GDP since 2020. He said this was less than a third of what the country received as recently as 2015 and 2016, when net FDI exceeded six per cent of GDP.

“Investors value certainty. Entrepreneurs value predictability. Businesses make long-term commitments when they believe that rules will be applied consistently and institutions will operate independently,” Bunting said.