-Europe: According to a study by Ernst and Young, direct investment projects to Europe in 2001 fell significantly, a direct consequence of the world economic slowdown in general and the economic recession in the USA in particular. The number of these projects fell from 2,243 in 2000 to 1,974 in 2001 - a 12% reduction. The countries most affected are Ireland (-46%), the Netherlands (-37%) and Switzerland (-47%). There was a 12% fall of in throughout Europe between 2000-2002, with this becoming more pronounced in the Euro-zone, -16% and -19% in the European Union. Out of the 36 most important investments projects more than half the number of countries have been affected by this fall. With the exception of Poland (-42%), Central and Eastern European countries, however, witnessed market growth, including the Baltic countries (Finland and Sweden). Despite the decline, the USA still holds first place out of foreign investors to Europe, accounting for 37% of all investment, as opposed to 44% last year. Germany is in second position with 11% followed by Japan, the United Kingdom and France (around 5% each). The sectors receiving most investment in 2001 were software (more than 17% of the total of all investment), cars, electronics, company services, chemicals and pharmaceuticals. - Belgium: The American Chamber of Commerce in Belgium (Amcham) has published a study (2001-2002 Amcham Survey on US Direct Investment in Europe), in which it analyses the attractiveness Belgium holds for US investors. According to this study, the slight decline in US investments to Belgium is continuing. Direct US investment to Europe fell from 5.3% between 1990-94 to 1.8% in 1995-99. Over the three past years, this figure has been below 0%. Out of US total investments to Europe, Belgium has found itself at the back of the queue. US investment thus represents 12.7% of foreign investment in Belgium, as opposed to a 24.4% average in the rest of the EU. In an effort to improve the investment climate, the Chamber is asking for a reduction in high labour market costs and an increase in worker flexibility.