- Sweden: according to a report by UNCTAD (United Nations Conference on Trade and Development), foreign direct investment (FDI) in Sweden grew by 50% last year to USD 10.9 bn. Around a third of the rise is due to the acquisition of Sonera (Finland) by Telia, in the telecommunications sector. FDI entries have, however, continued to decline for the third year in a row at around USD 11.1 bn. - Belgium/Luxembourg: still according to UNCTAD, FDI flows to Belgium and Luxembourg have also sharply decreased by more than half in 2001 alone. The level is, however, significantly higher than the average recorded in the period 1995-1998. Around 80% of FDI stock in Luxembourg, in 2000, involved the services sector, bearing out the strong position of the country in banking and finance. Investments from the USA, the third largest investment partner of the country, was mainly in the manufacturing sector.