Which of the following best explains why more foreign investments are not attracted to West Africa
Answer Details
The reason why more foreign investments are not attracted to West Africa is due to instability in political and industrial policies.
Foreign investors are typically looking for stable economic and political environments in which to invest their capital. West Africa has a history of political instability, including coups, civil wars, and unstable governments. This kind of instability creates a high level of risk for investors, who may be hesitant to invest their money in such an uncertain environment.
In addition, industrial policies and regulations in West Africa are often unclear, inconsistent, and subject to frequent changes. This makes it difficult for investors to plan for the long term and make informed investment decisions. The lack of transparency and predictability in the policies and regulations governing industries can further deter foreign investors.
Overall, the political and industrial policy instability in West Africa is a significant barrier to attracting foreign investments, which could contribute to the region's economic growth and development.