2011年-世界发展银行全球_Calculating_Foreign_Direct_Investment_in_the_Information_and_Communication_Technology_Sector_in_Egypt_24页_547kb

Summary of the World Bank Report: Calculating Foreign Direct Investment in the Information and Communication Technology Sector in Egypt

Core Content

This report is part of an ongoing World Bank initiative to support the Ministry of Communications and Information Technology (MCIT) in Egypt in measuring foreign direct investment (FDI) in the information and communication technology (ICT) sector. It outlines the methodology, challenges, and recommendations for improving the accuracy and consistency of FDI data collection in this sector.

The report is a second amendment to a reimbursable technical assistance (RTA) programme initiated in 2006 and updated in 2008. The main goal is to provide reliable and comprehensive FDI statistics to help inform Egypt's ICT development strategy and policy-making decisions.

Main Objectives

• To conduct a second iteration of FDI calculations in the Egyptian ICT sector using an internationally accepted methodology.
• To refine the FDI survey methodology and sampling framework based on new data and feedback.
• To estimate the true level of FDI in the ICT sector for FY2009.
• To ensure consistency in the time series of FDI data by revising earlier years' figures if necessary.
• To establish a regular and ongoing process for FDI data collection and reporting through staff training and collaboration with relevant institutions.

Key Findings and Data Collection

• The FDI survey was designed to collect data on FDI stock and flows for FY2006–2008, and on the operations of Direct Investment Enterprises (DIEs) for FY2008.
• Data collection was based on a sample frame, with DIEs selected from a list of twelve ICT enterprises.
• Only six companies (three large and three small) responded to the survey, but their data were considered representative due to their dominant role in the sector.
• The data for FY2009 and revised earlier years were more comprehensive than previously available.
• The FDI flows for FY2007 and FY2008 were based on a combination of new investment and reinvested earnings, though reinvested earnings were often negative, indicating that dividends exceeded net profits.
• The data on employment were found to be lower than expected due to outsourcing practices by DIEs.

Methodology and Challenges

• FDI is defined as the equity of a direct investor (DI) in a direct investment enterprise (DIE), measured as shareholders' funds minus minority interests, plus net lending.
• The methodology is based on international standards, including the IMF Balance of Payments Manual (BPM6) and the United Nations System of National Accounts.
• The survey faced challenges due to the lack of legal basis for data collection, limited cooperation from businesses, and the complexity of accounting practices.
• Some discrepancies were identified between FDI survey data and financial survey data, but these were not fully resolved during the visit.

Recommendations and Next Steps

• Publication of FDI and DIE operations data: The data should be published regularly to enhance transparency and support policy decisions.
• Continued collection of DIE operational data: Data collection should be extended to FY2011 onwards, and efforts should be made to collect data from earlier years where possible.
• Improving response and coverage: Steps should be taken to increase response rates and expand the survey's coverage.
• Profiling and data validation: A systematic approach to profiling DIE ownership and investment structures, including mergers, demergers, and restructures, is recommended.
• Treatment of indirect investment: Special attention should be given to the case of Orascom Telecom and other indirect FDI flows.
• Integration of surveys: There is a need to integrate financial and FDI survey data to better understand DIE operations.
• Legal basis for data collection: The legal framework for collecting FDI data should be strengthened to ensure compliance and cooperation.
• Staff training: Training sessions on balance of payments (BOP), national accounts, and accounting practices should be provided to MCIT-IT staff.

Future Plans

• The report outlines future plans for an ongoing FDI data collection process.
• Collaboration with relevant ministries and institutions is essential to ensure the sustainability and accuracy of the data.
• The World Bank's GICT department continues to support MCIT in refining the survey and improving data collection practices.

Conclusion

The FDI survey in Egypt's ICT sector has made significant progress in understanding the inflows of foreign investment and the operations of DIEs. Despite challenges, the data collected provide a reasonable estimate of FDI levels and trends. Continued improvements in methodology, legal support, and staff training are crucial to ensuring the long-term success of the FDI measurement process in the ICT sector.