UNCTAD (United Nations Conference on Trade and Development) has published its latest World Investment Report 2001. It aims to give international investors essential and precise information on Foreign Direct Investment (FDI) in the main regions of the world during last year. The information, which recapitulates investment flow for the year 2000, allows investors to identify the areas of the world which are the most attractive for investment. UNCTAD mainly points out that, although investment reached record levels last year mainly thanks to merger and acquisition operations, the breakdown of flows is very unequal. Also, for the first time, investment flows fell in Africa. Generally speaking, the developed world remains the number one destination for FDI, having notched up over three quarters of world assets. The "Triad" countries (EU, USA and Japan) accounted for 71% of entries and 82% outgoing FDI investment throughout the world last year. Within the Triad, the EU was the destination and the source of a growing share of such investment with, as preferential partners, other countries of Western Europe (such as Switzerland) and the United States. UNCTAD remarks, moreover, that the structure of FDI has developed within the Triad. Thus, the importance of Japan has slightly increased as a destination and decreased as a source. Japanese investment abroad is on the increase reaching $33 billion, its highest level for ten years. On the other hand, foreign investment in Japan plummeted by 36%, falling to $8 billion. Furthermore, the role of leading foreign investor hitherto held by the United States now goes to the EU which, as a group, keeps a dominant position both as investor and as destination. More particularly, in 2000, 1) FDI flows to developed countries last year jumped up 21% over the $1000 billion mark with an impressive result from Germany which, with $176 billion, is the first FDI recipient in Europe and the second in the world after the United States ($281 billion). This exceptional result can be explained by the absorption of MANNESMAN by VODAFONE AIRTOUCH, the largest international merger ever carried out; 2) the other countries in the lead were Canada and the United Kingdom with $130 billion and $63 billion respectively. In Canada, the FDI flows reached an unprecedented level that can be explained by several merger and acquisition operations mainly carried out with European and American partners; 3) FDI flows in Ireland were strong between 1998 and 2000, a country considered as the "the most dynamic of the developed world because of its recent growth and competitiveness". Having caught up the lack of productivity in its economy, this country is now transformed into a "centre of manufacturing activity with high technological intensity and the manufacture of software"; 4) among the countries that are the most active for FDI flows, the United Kingdom keeps in first place at world level with $250 billion emitted. France ranks second with $172 billion exceeding the United States for the first time in 2000. This rise is due to several major acquisitions, mainly the purchase of ORANGE by France TELECOM. Internet address of UNCTAD: http: http://www.un.org/publications.