DOHA, October 25, 2026: Doha’s World Investment Forum opened as UN Trade and Development reported global foreign direct investment 37% above the average half year of 2025, even as greenfield announcements and international project finance deals fell, with developing economies seeing a sharper drop in new projects.
UNCTAD’s Global Investment Trends Monitor found that investment flows to developed economies rose by more than 70% against the average half year of 2025. The increase was largely driven by financial flows through Belgium, the Netherlands and Luxembourg, alongside a near doubling of inflows to the United States.
At the opening, UN Trade and Development Deputy Secretary General and Acting Secretary General Pedro Manuel Moreno said least developed and lower middle income economies received barely 10% of investment in strategic sectors, less than half their share in other industries. He pointed to access to capital, skills, energy and institutions as challenges for countries seeking to attract investment in semiconductors and artificial intelligence infrastructure. The forum runs through October 27 under the theme “Investing in the Future,” according to the opening statement.
Large deals lift investment values as new projects fall
Cross border merger and acquisition value rose 57% to $494 billion in the first nine months of 2026, while the number of deals fell 23%. Announced greenfield projects declined 15%, and international project finance deals fell 11%, according to UNCTAD’s latest investment update.
Investment indicators: reported changes in 2026
Percentage changes reported by UNCTAD. The measures have different bases and reference periods; see the linked monitor for the definitions and comparisons.
Foreign direct investment (FDI) records cross border investment flows. Greenfield announcements refer to plans for new facilities or operations, while project finance figures track financing deals for specific projects. UNCTAD compares first half FDI with the average half year of 2025; its project growth rates generally use annualised estimates based on the first six to nine months of 2026 against 2025.
Flows to developing economies rose 8% against the average half year of 2025, but greenfield announcements fell by more than one fifth. Announcements for projects linked to the Sustainable Development Goals declined by more than 25% in developing economies. Renewable energy project finance there fell by about one third, compared with a 4% decline in developed economies. Announced greenfield investment in data centres in developing economies also fell by $32 billion, UNCTAD reported.
Strategic industries attract a growing share of capital
UNCTAD’s World Investment Report 2026 put global FDI at $1.6 trillion in 2025, up 6%. Developing economies received $901 billion, an increase of 2%, while the 20 largest host economies accounted for more than 80% of global inflows.
Strategic sectors’ share of announced greenfield investment
Share of global announced greenfield project value, as reported by UNCTAD in the World Investment Report 2026.
The report found that strategic sectors, including artificial intelligence, semiconductors, clean energy and critical minerals, accounted for 44% of announced global greenfield project value in 2025, compared with 16% in 2020. Yet least developed and lower middle income economies received only about 10% of strategic sector investment over 2020 to 2025, against more than 20% of investment in other sectors.
In his opening remarks, Moreno said the forum was intended to help countries develop their own investment strategies, strengthen institutions and skills, and find partners. The OECD’s September analysis, Fewer projects, bigger bets, also described a shift towards fewer but larger investments, alongside weaker activity in some areas, including renewable energy and software services. It argued for investment strategies that build a more diverse and resilient base rather than focusing only on project numbers.
Gulf investment flows diverge from project finance
Gulf Cooperation Council (GCC) economies recorded $130 billion in outward FDI in 2025, up 11%, while inward FDI reached about $99 billion, an increase of 18%, according to UNCTAD’s Gulf Cooperation Council Investment Report. International project finance in the GCC reached $114 billion, rising 65% despite a fall in the number of deals.
GCC investment growth in 2025
Year on year percentage changes reported in UNCTAD’s GCC Investment Report. Project finance and FDI are different measures.
UNCTAD’s latest monitor reports a different pattern for project finance in 2026. GCC outward project finance investment more than halved in the second quarter compared with the same period a year earlier and the previous five year average. Domestic project finance rose more than threefold year on year, largely due to a nearly $55 billion Emaar project in Dubai.
UNCTAD warned that regional conflict could prompt Gulf investors to delay or scale back overseas sustainable development projects. The report presents this as a risk, rather than confirmation that particular investments have been cancelled. The GCC report also records an increase in announced greenfield investment outside the Gulf, from $139 billion in 2016 to 2020 to $461 billion in 2021 to 2025, making the recent change in project finance an important part of the current investment picture.
Risk sharing and access to finance on tomorrow’s agenda
Tomorrow, the World Investment Forum programme includes a session on risk sharing that is set to examine guarantees, credit insurance, blended finance and cooperation among development banks, commercial lenders and private insurers. The session focuses on ways to improve access to financing tools for countries, sectors and smaller firms that struggle to attract private capital.
Financing tools and cooperation areas listed for the session
Each bar marks a topic listed in the programme. Equal bars do not represent the amount of funding, the importance of each tool or its effectiveness.
The session’s stated aim is to explore ways of reducing investment risk and building viable project pipelines. The forum’s next announcements and documents will show whether participants set out specific partnerships, financing arrangements or other steps beyond the programme’s stated aims.
