LONDON, March 14: Foreign direct investment plunged by 40 per cent worldwide in 2001 but should recover strongly in 2003 after stagnating this year, The Economist Intelligence Unit — a sister company of The Economist weekly magazine — said on Thursday.

Investment abroad by private companies dropped 40 per cent to $781.3 billion in 2001 from 312 billion in 2000, the EIU said.

Foreign direct investment was expected to stagnate at $784.3 billion this year before picking up to $902.4 billion in 2003 and $983 billion in 2004.—AFP